315 Walnut St, Wilmington, NC 28401
2 beds · 2 baths · 2,172 sqft
This rare duplex, located in the heart of the Downtown, offers the perfect blend of historic charm and modern convenience. Just steps from downtown, this property is walkable to everything—restaurants, shopping, and entertainment. The historic home, though not in the historic district, retains its original character with tall ceilings, hardwood floors, and beautiful stained glass windows, while offering the flexibility of two separate units. The inviting front porch with a swing is the ideal spot to relax and enjoy the vibrant surroundings.The downstairs unit is an oversized 1-bedroom, 1-bath apartment that comes fully furnished, making it move-in ready. It features a full kitchen, large windows that flood the space with natural light, and all the historic details that make it unique. Upstairs, the second 1-bedroom, 1-bath unit is equally spacious and includes a full kitchen as well. This unit is partially furnished, allowing you to personalize the space to suit your needs. Both units maintain their historic charm while providing modern amenities for comfort and convenience. The property also includes a small fenced-in backyard, perfect for outdoor relaxation, and shared laundry facilities off the back porch. Whether you're looking for a stylish downtown residence or an investment opportunity, this duplex is a rare find that combines history, charm, and location.
Source: NORTHCAROLINAREGIONAL #100486038
Why Roam
Lower rates and lower down payments
The only homebuying option for you to put 5% down and get a 5% rate.
Closing guarantee
We can close in 45 days or we’ll pay the seller’s mortgage until we close.
Offer acceptance
95% of offers accepted when made with Roam. 5% accepted without.
Have questions? Email support@withroam.com
Source: Public records
Source: NORTHCAROLINAREGIONAL #100486038
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.