121 Farmington Dr, Richlands, NC 28574
4 beds · 3 baths · 2,639 sqft
Get a free consultation call with an expert in the mortgage assumption process.
$10,000 Use as you choose PLUS a professional clean prior to closing ! Beautiful home nestled in the quaint neighborhood of Winding River Estates, this beautifully designed home welcomes you with a charming porch, ideal for enjoying your morning coffee or evening sunset. Plenty of parking with a long driveway to your side garage. Step inside and be captivated by the luxurious floor plan. The grand 2-story foyer sets an inviting tone as you enter, leading you past the spacious formal dining room AND an office/study with french doors - into the cozy and welcoming living room. Adjacent to the living room, discover a delightful breakfast nook that bridges the gap to a chef's dream kitchen. This oversized kitchen is a culinary enthusiast's haven, featuring an abundance of cabinets and drawers, gleaming granite countertops, a large central island, and stainless steel appliances. Completing the first floor is a functional laundry room, a full bathroom AND a bedroom. Venture upstairs to find the expansive primary suite with a luxurious ensuite bathroom offers a spa-like experience with a walk-in shower and a soaking tub, ideal for unwinding after a long day. Down the hall, you will find three additional spacious bedrooms and a well-appointed shared hall bathroom. Step outback to the deck, where you can enjoy an above ground pool just in time for the hot Carolina summer! This outdoor oasis is perfect for entertaining, making it an ideal spot for gatherings and relaxation. Don't miss the opportunity to make this stunning 5 bedroom residence your own!
Source: NORTHCAROLINAREGIONAL #100500508
All values shown are estimated costs / mo.
Source: Public records
Source: NORTHCAROLINAREGIONAL #100500508
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.
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.
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.
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 620, 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 and Equal Opportunity Act.