Limited time: Pay only $1,000 to assume a low rate mortgage when you sign a purchase contract between 12/11/24 and 1/10/25 *
VA loan
1 of 54
VA loan
$639,900

1031 Jones Wynd, Wake Forest, NC 27587

3 beds · 4 baths · 2,972 sqft

Step into this custom built, Platinum Award Winning, ''Parade of Homes'' stunner, nestled in Crenshaw Manor-one of Wake Forest's most sought-after neighborhoods. A beautifully manicured yard, wide stretching brick front porch and two-story foyer greets you, setting the tone for the home's sprawling and airy design. Inside, the oversized formal dining room is perfect for entertaining, while the updated, airy kitchen—complete with modern appliances, ample counter space, and custom Shelf Genie products—makes cooking a joy. The master suite adorned with a gorgeous fireplace is your personal retreat, complete with a newly updated master bath featuring a walk in marble shower, immense quartz counter space and a to-die-for walk in ''Closet by Design.'' Hardwood flooring flows throughout the main living areas, enhancing the warmth and charm of the home, while functional shelving and built in features ensure plenty of room for storage and organization. In the great room, a beautiful masonry fireplace serves as the perfect centerpiece, and natural light from the stunning cupola (which lights up) overhead creates an inviting atmosphere. Up the front set of stairs, the home features two additional bedrooms connected by a charming catwalk that overlooks the great room below. These bedrooms share a spacious full bath, providing comfort and privacy for family members or guests. At the top of the second set of back stairs, the expansive bonus room is a true standout. Whether you're looking for a media room, home office, or entertainment space, this room delivers—complete with a sleek wet bar and 1/2 bath. The exterior features charming copper accents, adding a touch of elegance to the home's curb appeal. Step out back to your own private oasis with a spacious deck overlooking the serene, tree-lined yard. Perfect for morning coffee, outdoor dining, or simply enjoying the peaceful surroundings, the deck offers the ideal spot for relaxation and entertaining. The tranquil yard provides plenty of space for gardening or play, all framed by the vibrant fall foliage. The garage is a dream for any hobbyist, featuring extra shelving, storage, and a dedicated well lit workspace for all your projects and tools. Conveniently located in Wake Forest, this home offers easy access to shopping, dining, and schools. With autumn in full swing, the home is surrounded by the vibrant colors of fall, providing stunning views from every window. Don't miss this opportunity to live in a home that combines custom craftsmanship with modern updates, all in a prime location you'll love to call home!

Estimated
Seller's interest rate
2.75%
7%
Estimated
Principal & interest
$1,122/mo.
$1,734
You may also save up to $188,591 in total interest paid.
Listing price
$639,900

Your cash down payment
$392,062
Seller’s estimated current equity is $392,062
To assume this mortgage you must cover the seller’s equity by using your cash or by combining your cash with a 2nd mortgage.
Estimated $1,122 monthly payment

Financed
$247,837
Assumed mortgage 2.75% • Seller's rate
$247,837
2nd mortgage 9.25% • No prepay penalty
$0

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.

VA loan
Eligible for investors
Not a veteran? You may still be qualified to assume the mortgage.
Location
Details
Home
Size
2,972 sqft
Lot size
0.54 acres
Year built
1990
Type
Single Family Residence

Source: TRIANGLEMLS #10058179

Loan
Remaining term
25 years, 8 months
Rate
2.75%
Monthly P&I
$1,122
Remaining loan balance
$247,837

Source: Public records

How it works

Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.

Tour

Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.

Offer

Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.

Close

Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.

Who can qualify

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.

Frequently asked questions

What is Roam?

expand content

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?

expand content

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?

expand content

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?

expand content

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?

expand content

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.

View all FAQs
Last updated: Dec 21, 2024 12:36 pm
Listing agent: Lindsay Davison (785) 317-0103
Listing provided courtesy of: NC Home Team LLC (910) 890-8959
Details provided by TRIANGLEMLS and may not match the public record.
MLS ID: #10058179
Listings marked with an icon are provided courtesy of the Triangle MLS, Inc. of North Carolina, Internet Data Exchange Database. Information Not Guaranteed. Copyright 2024 Triangle MLS, Inc. of North Carolina. All rights reserved.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 30 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$1,122/mo
View details