**Charming Waterfront Retreat on Kerr Lake** Welcome to your serene escape nestled on Kerr Lake in the Middleburg community. This delightful waterfront property offers the perfect blend of tranquility and convenience, situated on a peaceful cul-de-sac just off Flemingtown Road. Enjoy the ease of quick access to I-85, allowing for effortless travel both north and south. This inviting home features four bedrooms and two well-appointed bathrooms, making it an ideal space for families or those seeking room for guests. The open great room design seamlessly connects to the outdoor living area through sliding doors, leading to an expansive 12x30 deck that boasts stunning views of the picturesque Kerr Lake. Imagine sipping your morning coffee or hosting summer barbecues while soaking in the natural beauty surrounding you. The galley kitchen is well-equipped and flows into a generous dining area, perfect for entertaining or enjoying family meals. The covered front porch invites you to unwind and take in the serene atmosphere of the neighborhood. With a heat pump installed and the roof estimated to be only eight years old, this home is ready for you to move in and make it your own. While the property does have restrictions that prevent the issuance of a dock permit, the sandy beach provides an excellent spot for sunbathing and enjoying the water. For those who love boating, a public boat ramp and campground are conveniently located just a mile away, offering easy access to all that Kerr Lake has to offer. This property is not just a home; it's a peaceful retreat that allows you to escape the hustle and bustle of daily life while still being close to all the amenities Henderson has to offer, including shopping, dining, and recreational activities. Additionally, a large steel two-bay garage provides ample space for boat storage or can serve as a workshop for your hobbies. This versatile space enhances the functionality of the property, making it perfect for outdoor enthusiasts or DIY projects. Don't miss out on this exceptional opportunity to own a slice of paradise on Kerr Lake. Schedule your appointment today to experience the charm of this home and the beauty of its surroundings. This waterfront property is a rare find, and it won't last long on the market. Come see for yourself why this location is the perfect place to create lasting memories.
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.
