Welcome home to this beautifully maintained 4-bedroom, 2.5-bath home tucked away on a quiet cul-de-sac in the established Wells Place neighborhood. Surrounded by mature trees and offering a functional floor plan with multiple living spaces, this home combines timeless charm with thoughtful updates.Step inside to find a formal living room that also makes an ideal home office, along with a formal dining room perfect for gatherings and special occasions. The updated kitchen is the heart of the home, featuring crisp white cabinetry, quartz countertops, stainless steel appliances, a spacious pantry, and a sunny breakfast nook with a beautiful bay window overlooking the backyard. Additional countertop seating provides the perfect spot for casual meals or morning coffee.The inviting living room is filled with natural light and centered around a cozy wood-burning fireplace, creating a warm and welcoming space to relax. A convenient laundry area, with the washer and dryer, along with a half bath, complete the main level.Upstairs, you'll find all four bedrooms, including a spacious primary suite with a walk-in closet, double vanity, and linen closet. Two secondary bedrooms feature charming accent walls ready to inspire your favorite Pinterest decorating ideas, while the fourth bedroom offers the flexibility to serve as a bonus room, guest suite, playroom, or additional living space. A full guest bath with a tub/shower combination and its own linen closet provides added convenience.Step outside to enjoy a large deck shaded by beautiful crepe myrtle trees, creating a peaceful setting for relaxing or entertaining. The fully fenced backyard includes a play set and plenty of room to enjoy the outdoors, while the oversized two-car garage offers excellent space for parking, storage, or hobbies.Located in an established neighborhood with convenient access to shopping, dining, schools, and Fort Bragg, this home offers the space, updates, and setting you've been looking for.
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.
