1305 Reservoir View Ln, Wake Forest, NC 27587
6 beds · 5 baths · 5,478 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Welcome to luxurious living in the highly desirable Bridgewater community of Traditions in Wake Forest! This stunning former Parade Home boasts exceptional curb appeal with its double front porches, meticulously landscaped yard, and spacious 3-car garage. Thoughtfully upgraded throughout, this home showcases true craftsmanship and attention to detail. Step into an inviting foyer that leads to a private home office with French doors and a formal dining room featuring beautiful wainscoting. The chef's kitchen is an absolute dream—highlighted by two oversized islands, a gas cooktop with custom hood, double wall ovens, and abundant cabinetry. Enjoy ultimate convenience with dual pantries, mudrooms off each garage, and a charming side-entry for guests. With 6 bedrooms and 5 full bathrooms, there's room for everyone and every need. Start your mornings with serene backyard views from the breakfast nook, or unwind on the screened-in porch, complete with a gas fireplace, shiplap accent wall, and custom mantel. The luxurious primary suite features double tray ceilings, custom window treatments, and a spa-inspired bathroom with dual vanities, a soaking tub, frameless glass shower, and an expansive walk-in closet. The finished basement includes an additional bedroom and full bath, plus tons of additional space currently setup as a home gym, media room and separate home office. The basement also features a wet bar with mini fridge and an exposed brick accent wall. Step outside to your personal backyard retreat—enjoy covered seating, a built-in gas grill with stacked stone surround, a cozy fire pit area, and a fenced yard. Additional highlights include newer HVAC systems (2022 & 2023), and a prime location directly across from the community amenities including a large pool, playground, beach volleyball, and amenity center. The home also backs to the scenic Wake Forest Reservoir, offering access to trails, picnic areas, and kayaking— all just a 1.5 mile walk / bike / ride from Downtown Wake Forest. This home truly has it all—space, style, and a location that can't be beat!
Source: TRIANGLEMLS #10090498
All values shown are estimated costs / mo.
Source: Public records
Source: TRIANGLEMLS #10090498
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.