Seller is offering $10,000 in buyer concessions. Check out this charming Archers Point home, lovingly maintained by its single previous owner. Built in 1999, this 3-bedroom, 3.5-bath sits on 1.19 acres along Archers Creek, with direct access for canoeing and kayaking. A newly updated back deck is perfect for relaxing or entertaining, and the ground floor boasts a huge garage, tons of storage, and a separate living space with an open layout, kitchenette, and full bath with walk-in shower—plus a mini-split HVAC for comfort. Outside, enjoy a covered patio and an outdoor shower with its own hot water tank. On the main floor, you'll find the master suite with a spacious bath, a half bath, a cozy living room with fireplace, formal dining and sitting rooms, a bright kitchen with nook, laundry, mudroom, and pantry. Upstairs offers two bedrooms, a full bath, and additional space for an office or playroom, all with plenty of storage. Hardwood floors shine on the main level, and the kitchen features granite counters, built-in oven and microwave, double sink, and stainless-steel appliances. Crown molding adds elegance to both floors, and large windows flood the first floor with light and water views. Located close to Emerald Isle's shopping, dining, Bogue Pier, and a public boat launch. This property sits in an AE flood zone, with water depth at the dock's end ranging from 2 to 2.5 feet depending on the tide. The ground level includes a separate living area that makes up 644 of the total heated square feet. There's a propane hookup line in place, but no tank on-site. A previous elevator was removed, though the space remains if a future owner wants to install one. The county completed an assessment in 2025, which will impact that year's taxes. Additional material facts are available—ask your agent for details. NO BUYER CONTINGENCIES.
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.
