118 Cynthia Dr, Chapel Hill, NC 27514
4 beds · 3 baths · 2,255 sqft sqft
Welcome to this stunning home nestled in the sought-after North Forest Hills neighborhood, located within the top-rated Chapel Hill-Carrboro school district. This home's unique architecture makes for a truly special living experience. Step into the light-filled 4-season room with brand new flooring, overlooking a serene, private, tree-lined backyard that connects to a spacious deck—perfect for outdoor entertaining. The professionally landscaped yard adds to the home's beauty and tranquility. Inside, vaulted ceilings and fresh paint create a bright and welcoming atmosphere. The kitchen features granite countertops, stainless steel appliances, and a second prep sink, ideal for culinary enthusiasts. The dreamy primary suite on the third level offers ultimate privacy, complete with a large walk-in closet, a garden tub, and a walk-in shower. A potential second primary suite on the main level provides flexible living options. Enjoy nature walks to nearby Lake Ellen, where you can relax and take in beautiful sunsets while birding. The neighborhood offers plenty of outdoor amenities, including a playground, covered picnic area, basketball court, open field, and nature trails. With UNC just minutes away, as well as Homestead Park and Cedar Falls Park nearby, this home is perfectly located for both convenience and recreation. Don't miss this gem!
Source: TRIANGLEMLS #10059116
Interest rate and monthly payment estimated based on public records.
Source: TRIANGLEMLS #10059116
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step. Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #10059116