1961 Wonderland St SW, Ocean Isle Beach, NC 28469
3 beds · 2 baths · 1,381 sqft
Well-maintained 3 bedroom, 2 bath Ocean Isle Beach home in the Water Wonderland subdivision just a short distance to the Intracoastal Waterway. No HOA or HOA Fees! With approx. 1381 heated sqft, this recently renovated home has many updates and upgrades. New LVP flooring through living room, dining area, primary bedroom and laundry room, while the 2 guest bedrooms and hallway have newly installed carpet. Kitchen and bathrooms are tiled. Kitchen has tons of counterspace with new Quartz countertops with undermount single basin sink and new faucet as well as plenty of freshly painted cabinets. Stainless steel appliances. Ceiling fans in all bedrooms, living room, kitchen and front porch. Both bathrooms have recently new tiled step-in shower (primary) and tub/shower combo with transom (guest), new vanity countertops, new lights & plumbing fixtures, rectangular tiled floors, and primary has double designer sinks. Whole house Kinetico water softener & a reverse osmosis system for sink and refrigerator. Laundry room has space for side-by-side washer & dryer, shelving plus extra storage room. Outside areas include large 20x5.8 front porch, newly screened back porch, updated back deck, 16x10 shed wired for electricity, 8x6 greenhouse, and fenced backyard. Roof's architectural shingles are approx. 8yrs old and house siding is milled cedar wood (painted 2025). Gutters have gutter guards. HVAC installed Aug 2024. Water heater is approx. 5 yrs old. Public water and on-site Septic system (emptied April 2025). Home has transferrable termite bond. Come see this beautiful home so close to everything Ocean Isle Beach has to offer: shopping, restaurants, boating, fishing, and don't forget the amazing Intracoastal Waterway and sandy beaches of the Atlantic Ocean!
Source: NORTHCAROLINAREGIONAL #100500733
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Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: NORTHCAROLINAREGIONAL #100500733
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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.
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.
How can you find assumable mortgage listings?
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.
How do I qualify for an assumable mortgage?
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.
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