1603 N Alston Ave, Durham, NC 27701
3 beds · 3 baths · 3,248 sqft sqft
Welcome to this impeccably renovated ranch home, located just minutes from the vibrant entertainment, dining, and shopping options of Downtown Durham. Situated on a spacious half-acre corner lot, this residence perfectly marries classic charm with modern sophistication, offering a thoughtfully designed, accessible living space. Renovated in 2018 with high-quality designer finishes throughout, this home features original hardwood floors that extend across the open and accessible main level. The floor plan includes three well-appointed bedrooms, with the luxurious owner's suite serving as a peaceful retreat. The suite is thoughtfully designed with accessibility in mind, offering a custom walk-in closet and a spa-like bathroom. At the heart of the home is a gourmet kitchen, designed to accommodate both function and style. The kitchen features a waterfall-edge center island, gas cooktop, and premium designer finishes, making it an ideal space for both culinary creations and gathering with family and friends. The lower level of the home expands your living space, featuring a fully finished basement with a versatile flex room, a bar, an entertainment area, and a sunroom. This area is perfect for entertaining or creating a private retreat. The large outdoor paved area provides an ideal setting for outdoor gatherings, further enhancing the home's appeal. This property offers a unique combination of accessibility, modern amenities, and timeless design, making it a rare find in a prime location.
Source: TRIANGLEMLS #10051901
Interest rate and monthly payment estimated based on public records.
Source: TRIANGLEMLS #10051901
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: #10051901