1600 Raeford Rd, Southport, NC 28461
3 beds · 3 baths · sqft sqft
$5000 buyer credit to use toward closing costs. Welcome to this beautifully renovated 2-story home in Boiling Springs Lakes, perfectly situated on a double sized corner lot. This property offers ample parking for all your vehicles, boats, RVs, and trailers with no HOA restrictions, along with a 2-car garage and a concrete driveway. Nestled among nature and located off a paved road, you'll find it close to the boat ramp at Patricia Lake, making this an ideal location for outdoor enthusiasts. As you enter through the inviting front porch, you are greeted by a grand living room featuring a cathedral ceiling and an electric fireplace with floor-to-ceiling shiplap. The formal dining area is perfect for hosting family dinners or can serve as an additional sitting area. Double French doors lead to the screened-in back porch, which overlooks the private backyard, providing a tranquil retreat. The primary bedroom, conveniently located on the main level next to the kitchen, boasts an en-suite bath with an updated ''bath fitter style'' walk-in shower. Recent updates throughout the home include new LVP flooring, fresh paint on walls, ceilings, and trim, new doors, toilets, shaker style kitchen and bath cabinets, granite countertops, hardware, fixtures and refrigerator. The second story offers two bedrooms, a full bathroom with a walk in ''Bath fitter style shower'', and a versatile flex room. The oversized 2-car garage has been freshly painted and cleaned and is equipped with pegboard for tool storage, and includes additional storage above. The home features Trane heat pumps (installed in 2020) and a roof from approximately 2017. This home is better than new and ready for you to enjoy! Located just 25 minutes from the beautiful beaches of Oak Island and 20 minutes from the historic riverfront of Southport, with plenty of dining and shopping options. Easy commute to Leland and Wilmington. Don't miss this opportunity to own a piece of paradise in Boiling Springs Lake
Source: NORTHCAROLINAREGIONAL #100459453
Interest rate and monthly payment estimated based on public records.
Source: NORTHCAROLINAREGIONAL #100459453
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: #100459453