404 W Yacht Dr, Oak Island, NC 28465
5 beds · 5 baths · sqft
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
Interest rate and monthly payment estimated based on public records.
Source: NORTHCAROLINAREGIONAL #100466647
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.
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.
MLS ID: #100466647
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