101 Shelley Rd, Hampstead, NC 28443
3 beds · 2 baths · 1,582 sqft
This charming 3-bedroom, 2-bath home offers a well-designed split floor plan with 1,582 sq. ft. of living space on a spacious 0.46-acre lot. The vaulted ceilings in the living room enhance the open feel of the home, while the cozy wood-burning fireplace adds warmth and character. The large primary suite features an updated shower, providing a modern touch to the private retreat. The kitchen boasts ample cabinet space and a functional island, perfect for meal prep and entertaining. Recent updates include a 2021 HVAC system, and the home is already plumbed for a central vacuum system. Outdoor living is just as inviting, with both a screened porch and decks on the front and back, ideal for relaxing or hosting gatherings. An added bonus to this property is the oversized detached one-car garage with a carport and separate electric panel box offering plenty of storage or perfect workshop. The private, fenced yard enhances the sense of seclusion while still being conveniently close to shopping and restaurants. Whether you're a homebuyer or an investor, this property presents a fantastic opportunity with endless potential.
Source: NORTHCAROLINAREGIONAL #100491647
Financials
Source: NORTHCAROLINAREGIONAL #100491647
Source: Public records
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%. 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.
Other resourcesWhat is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.