10600 Soma Ct, Raleigh, NC 27613
4 beds · 4 baths · 3,847 sqft
Open House canceled for 3/29. This classic beauty nestled among the large, wooded lots of the Wood Valley subdivision might be the perfect home. Close to everything but far from it all, this peaceful retreat gives you the space to unwind yet is accessible to all the amenities Raleigh, RTP and the Triangle have to offer (with no city taxes). Situated on a .89-acre corner lot with multiple open and usable grassy areas, a fenced backyard and a long, flat driveway, the outdoor space provides plenty of room to get out and play or for you to host all your friends and family. Access to the Wood Valley Swim and Tennis Club gives even more ways to enjoy your evenings and weekends, plus the opportunity to connect with your neighbors. After you've soaked in the abundance of curb appeal and enter through the new front double doors, you'll be greeted by fresh and modern touches including refinished hardwood floors, a new stair railing, freshly painted walls, new light fixtures and an updated first floor full bath...nearly everything has been touched. The kitchen has been renovated to include new quartz countertops & breakfast bar, tile backsplash, lighting, wine & beverage fridges and coffee/wine bar area. Open to the kitchen/breakfast area is a sunken family room with beamed ceiling, updated with wood-topped built-in cabinets, shelves and a wood burning fireplace for those winter months. The true highlight of the property (added in 2021/22) is a huge (14x22) screened porch with skylights, ceiling fan and wood tongue and groove ceiling that immediately puts you into relaxation mode. Take it easy on a lazy Sunday or bring the party out onto the connecting deck, fire up the grill and firepit on the recently installed bluestone patio and enjoy some yard games in the large backyard. With flexible spaces abound, you'll be able to spread out, whether that's multiple home offices, guest bedrooms, a teen suite, rec room, movie room and beyond. The first floor features an ample living room/study and a formal dining room. There are four bedrooms on the second level with a generous-sized primary suite that features a walk-in closet, updated bathroom with glass shower and lux shower panel system. The hall bath has been updated with double vanity and separate shower and toilet area. The second floor also boasts a huge (18x22) bonus room with soaring ceilings and tons of natural light. The third-floor suite is perfect for any number of uses as it offers two flexible rooms, cathedral ceilings, a full bath with shower, three closets, and skylights to keep it light and bright. Beautiful, all-new flooring, has been installed throughout the second and third floors. A walk-in attic on the third floor provides plenty of extra storage space. This meticulously maintained home gives you peace of mind because all the hard work has been done, from the things you see to all the things you don't; this is truly turnkey. See the separate features/updates information included. This is a rare opportunity for an outstanding home in Raleigh's desirable Wood Valley. Act fast, this won't last long. Welcome home!
Source: TRIANGLEMLS #10084210
Source: TRIANGLEMLS #10084210
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.