404 W Yacht Dr, Oak Island, NC 28465
5 beds · 5 baths · 2,991 sqft
Get a free consultation call with an expert in the mortgage assumption process.
This perfectly situated home is located right on the Intracoastal Waterway offering the most amazing waterway views. Imagine sitting on your porch as evening falls watching the boats and jet skiers as they cruise the waterway against the spectacular backdrop of sunset-colored skies reflecting off the water. This very spacious home features 3 levels, including a ground level apartment suite with porch that can be accessed from the interior and exterior. The apartment suite features a full-size kitchen, dining and living area, plus 2 bedrooms and one 1 full bathroom. There is also a garage with a laundry area and an elevator. In the main house you will find 2 additional levels. The middle level features the primary bedroom suite, kitchen, dining and great room with wet bar area. Plus, a large sunroom as you walk through uniquely designed archways off the great room that showcases the spectacular Intracoastal Waterway views that lie beyond. In addition, there is a flex room just off the kitchen/dining area that you can make into an office, hobby space or whatever you can dream up. The top floor houses 1 full bath, 1 half bath and the remaining bedrooms. Enjoy your very own pool, dock with boat lift and gazebo, and large, fenced backyard on the Intracoastal Waterway. This tranquil, wooded residential area offers quiet back roads with little traffic to enjoy an afternoon of bike riding. Yet, you are still very close to easy access on and off the island at Middleton Avenue/Hwy 906 over the Swain's Cut Bridge. Just a short drive away and you are on the sandy shores of Oak Island relaxing in the warm sun and listening to the waves. Conveniently near all kinds of great restaurants, several parks, grocery stores, Ocean Crest Pier, Oak Island Golf Course, Historic Southport, and more just a short 5-15 minute drive away. You simply must come and explore this spacious home and the location for yourself and see all it has to offer! Live your coastal dream!
Source: NORTHCAROLINAREGIONAL #100466647
Learn about how it works
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
All values shown are estimated costs / mo.
Source: Public records
Source: NORTHCAROLINAREGIONAL #100466647
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.
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.
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.
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.
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.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.