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118 Cynthia Dr

Chapel Hill, NC 27514

4 beds · 3 baths · 2,255 sqft

$675,000

$1,652/mo at 2.34% with Roam

$1,689/mo at 7% with a bank loan

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About this home

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

2,255 sqft
0.49 acres
Single Family
Built in 1977

Neighborhood
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FAQs

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.

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.

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.

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.

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 “Save search” 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.

When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.

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Last updated: Apr 14, 2025 07:59 pm
Listing provided courtesy of: Coldwell Banker Advantage (919) 967-6363
Details provided by TRIANGLEMLS and may not match the public record.
MLS ID: #10059116
Listings marked with an icon are provided courtesy of the Triangle MLS, Inc. of North Carolina, Internet Data Exchange Database. Information Not Guaranteed. Copyright 2025 Triangle MLS, Inc. of North Carolina. All rights reserved.
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