If you are looking for a well maintained full brick home in the top rated Marvin Ridge school cluster look no further. This Shea Homes Alpine model will check all of your boxes. From the outdoor oasis with inground salt water pool with tanning ledge, patio with gas fire pit, fenced and private backyard to the the wonderful open floor plan, you will want to call this one home. The heart of the home is perfect for entertaining. The kitchen has an approximately 12 foot breakfast bar that opens to the dining area and family room. The counter depth stainless steel refrigerator in the kitchen will remain. There is a stacked stone fireplace in the dining area. Off the front foyer is an office with french doors. Opposite the office is the designated formal dining room with tray ceiling and chair railing. It is presently being used as a second office. The primary bedroom with attached primary bath is on the main level. The primary bathroom features his and her vanities and walk in closets with built ins. There is a jacuzzi tub and walk in shower. The entire main level is hard wood floors! Moving upstairs you will find the loft. This area is perfect for homework/office/craft area or simply a reading nook. 3 good sized bedrooms with 2 full bathrooms are on the upper level. Closets have built in systems. There are french doors leading to a huge bonus room. Off the bonus room is another flex space. Again you will find wood floors throughout the upper level with the exception of the flex/playroom. Both HVAC units have been replaced, new tankless gas hot water heater and new architectural shingle roof. Residents of Barrington enjoy resort-style amenities, including a large pool, clubhouse, tennis and basketball courts, a playground, and scenic walking trails. The home is located minutes from downtown Waxhaw where you can enjoy the town activities like parades, Friday night music under the water tower, Farmer's market along with plenty of restaurants and local shops. Located a short distance from Blakeney, Ballantyne and the 485 corridor.
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.
