2016 Terri Creek Dr, Fuquay Varina, NC 27526
4 beds · 3 baths · 3,076 sqft
Traditional charm, an intimate floor plan, nestled in the sought-after community of Crooked Creek. Step inside to be greeted by a grand staircase and a private floor plan that flows from one room to the next. Your first floor features a formal dining room and a home office that we all need. Step into the heart of the home to discover a spacious kitchen with endless cabinetry, new Samsung appliances and an eat-in area, and a sunken living area perfect for hosting. Upstairs you'll find 5 bedrooms or 4 bedrooms with an oversized bonus room. Right off the hall, you'll step into your spacious primary with dual closets. Your primary bath offers separate vanities, a soaking tub, and a walk-in shower. Down the hall you'll discover a full bath and generously sized bedrooms, one of which features a darling Juliet balcony. Step out to your back deck to soak in the views of your flat, expansive lot with lush hardwoods. Next to Hilltop Needmore Town Park and Preserve, you'll have great outdoor amenities and a community pool and tennis court! Minutes from downtown Fuquay and just off 401, you'll have quick access to get you anywhere in the triangle.Crooked Creek is a sprawling community of six neighborhoods: Previously home to a golf course, the community now features an adjacent town park, Hilltop Needmore Town Park & Preserve, which offers 143 acres with five miles of paved trails, open green space, and multiple ponds—community amenities include a swimming pool and tennis courts. Minutes from downtown Fuquay and just off 401, you'll have quick access to get you anywhere in the triangle.
Source: TRIANGLEMLS #10083205
Source: TRIANGLEMLS #10083205
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.
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 “Get Notified” 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 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.