1028 Summerlin Falls Ct, Wilmington, NC 28412
3 beds · 2 baths · 1,192 sqft
Welcome to the perfect patio home in the sought after neighborhood of Summerlin Falls. Nestled in the true heart of Wilmington close to hospitals, restaurants, and much more. This home in a condo association is a completely unattached, single floor home with a private patio enclosed with a six-foot-high brick wall. There are large south facing windows in the main living area for plenty of natural light. Vaulted ceilings, freshly painted interior, new single ceramic sink and quartz countertops, glass tile backsplash and all new door fixtures. The attached single car garage steps directly into the heart of the house with convenient entry that leads straight into the kitchen, making grocery unloading daily errands a breeze. The HOA includes commons landscaping, termite bond, master homeowners' insurance policy, valet trash pickup, pressure washing and exterior maintenance. Hard wood floors throughout main living areas and hall. HVAC installed in 2018 and roof replaced in 2019. Sidewalks everywhere to include a walk to the The Pointe, movie theater and restaurants if you like. This home is a one of kind patio home close to downtown and beaches. Safe, and quiet neighborhood - Location, location, location.
Source: NORTHCAROLINAREGIONAL #100490693
Financials
Source: NORTHCAROLINAREGIONAL #100490693
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.