Welcome home to effortless living in 3 Cherry Way! Step into this beautifully designed home where comfort meets sophistication. From the moment you walk through the door, the open floor plan and soaring ceilings create a sense of space and ease, perfect for gathering with friends or simply enjoying quiet mornings at home. The spacious living room flows seamlessly into the dining area, accented by a tray ceiling that adds a touch of elegance. Double French doors off of the dining area open to a screened porch where you can take in the peaceful view of the tree line from this perimeter lot. The kitchen is both stunning and functional, featuring rich wood cabinetry, gleaming granite countertops, stainless steel appliances, tile backsplash, and thoughtful details like under and over cabinet lighting. A convenient breakfast bar invites conversation while you cook, and the large pantry ensures everything has its place. Just off the living room, the bright sunroom offers endless possibilities such as a cozy reading nook, home office, or peaceful workout space surrounded by natural light. The primary suite is a true retreat, showcasing a triple tray ceiling, spa-like ensuite with a curbless oversized shower, dual vanities with extended counter space, and generous storage including a walk-in closet and linen closet. On the opposite side of the main level, you’ll find a second bedroom filled with natural light and a walk-in closet, along with a nearby full bath for guests. Upstairs, is a versatile third bedroom or bonus space with a walk-in closet, half bath, and easy access to expansive walk-in attic storage that is ideal for hobbies or seasonal décor. Life here is about connection and convenience. The community offers a welcoming clubhouse, pickleball court, an outdoor pool, and a covered picnic area. Whether you prefer peaceful mornings on your porch or joining neighbors for an activity, you’ll find the perfect balance of relaxation and engagement without the high HOA fees found in many other 55+ communities. Located just minutes from Lake Norman, dining options and everyday conveniences, this home offers the best of low-maintenance living in a vibrant 55+ community. Come experience the lifestyle you’ve been waiting for where every detail feels just right.
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.
