1014 Mccarley Blvd, Wilmington, NC 28412
5 beds · 4 baths · 3,023 sqft
Once you step through the sunny, yellow door of this 3 year old home, you are greeted with a large, open living space. A cozy fireplace and LVP floors flow through into the dining area and bright kitchen, complete with a large center island, light grey cabinets, walk-in pantry and granite counters, perfect for entertaining or family time. Downstairs you will also find a powder room and a bedroom with its own full bath, perfect for a guest room or in-law suite. As you head upstairs, you have the large primary suite to your right with vaulted ceilings and bright windows overlooking the backyard, a grand en-suite bathroom with dual vanities atop a marble counter, an oversized, tiled, walk-in shower with glass door, private water closet and a gorgeous, custom made closet. The second floor is rounded out with 2 more bedrooms, a full bath, the laundry room and a large flex space. The third floor contains an oversized 5th bedroom. Whole home water treatment system and reverse osmosis also included. Outside, the backyard has a 6' wooden fence for privacy, a shed and a covered patio. Don't forget to check out the cozy rocking chair front porch, where you can sip your morning coffee, watch your kids play in the cul-de-sac or enjoy the Coastal NC weather with a book! The original Echo Farms Farmhouse is just across the street and the neighborhood also hosts New Hanover County owned Echo Farms Park. The park includes tennis courts and a pool (fees apply, not included with Woodlands Grove HOA) and scenic walking trails. 10 minutes from Downtown Wilmington, 15 minutes from local beaches, and tons of restaurants and shopping nearby. You won't want to miss this one, schedule your private tour today!
Source: NORTHCAROLINAREGIONAL #100494794
Financials
Source: Public records
Source: NORTHCAROLINAREGIONAL #100494794
To qualify, you must meet the current FHA or VA 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
What 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.