Gorgeous custom home built by award winning Carrell Homes. This one has all the room you and your guests will ever need. 3BR's/3.5BA's in the main house and the 'pool house' is home to another bedroom/bathroom & kitchen which will definitely be in high demand by your family/friends. It's rare to see a swimming pool in Ocean Ridge & this is no ordinary pool. Oversized 'heated' gunite pool was fully resurfaced in 2022 offers plenty of space for chilling & grilling at the outdoor kitchen & an outdoor shower. This home has been immaculately maintained by the original owners. New roof in 2022, Generac whole-house generator installed in 2019, two air handlers replaced in 2019, and in 2024 the seamless gutters were installed, the interior was fully painted, and the kitchen cabinets were resurfaced. Great home for entertaining with the open floor plan offering 2 living spaces, a formal dining room, and a breakfast nook. Huge open kitchen has granite counters, enough cabinet space for all of your kitchenware, stainless steel appliances, and a gas cook top for the chef of the house. The large primary suite has a fireplace (also in LR), a walk-in closet with custom shelving, 2 vanities/sinks, and a tiled walk-in shower. Another guest bedroom with a full bathroom, a powder room, and the laundry room completes the first floor living space. The bonus room over the garage with a full bathroom offers flexibility as another bedroom, craft room, or an entertainment room.This home has to be seen in person to appreciate the classy yet island feel that it offers! Ocean Ridge Plantation is widely considered the premier community in the Coastal NC with its gorgeous custom homes, lush landscaping, & a myriad of amenities including 4 golf courses, 2 clubhouses with outdoor pools, a heated indoor pool, sauna, steam room, jacuzzi, fitness center, pickleball courts, meeting rooms, walking trails, a community garden, and last but not least, a beach clubhouse on world famous Sunset Beach!
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
