Welcome to Brookmeade in Waxhaw: a community that blends the tranquility of nature with the convenience of nearby amenities such as shopping, restaurants, a town library, and other local favorites. Whether you like to entertain indoors or outdoors, this home offers spaces on each level for intimate settings or large gatherings. The main level highlights a large kitchen with a five-burner gas cook top and separate double-ovens. An expansive granite-topped island allows company to perch during meal prep or just chat over coffee. The great room and exterior-covered porch adjacent to the kitchen offers easy access to the deck and rear yard. Do you prefer an office or library for the enclosed room across from the dining area? A fireplace located in the great room could accommodate a flat screen TV or art: you choose. Transition your overnight guests to the lower-level living space with a separate bedroom and full bath complemented by an additional living area and a media room. Private enough with walkout to patio, fire pit, and spacious rear yard. The upper level also features an opportunity for creative use: imagine a game room, study area, workout space, or quiet nook to relax. Wind down by retreating to the upper-level Owner Suite with tray ceiling, two separate closets and in-suite bathroom. Plus, four additional bedrooms, two full baths and laundry room add to your choices. Additional features include a tankless water heater, water filtration system, and three-car garage. When you are ready to venture outside your neighborhood, enjoy the locally owned shops, horseback riding, farm tours, or exploring the surrounding towns. This home is "the one!" Tours are available by appointment.
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.
