4617 Norwich Rd, Wilmington, NC 28405
3 beds · 2 baths · 1,628 sqft
Beautifully Updated and Move-In Ready Home in Highly Desirable King's Grant! This meticulously maintained home offers modern updates and timeless charm, making it truly turn-key! Enjoy new LVP flooring throughout, along with a beautifully updated kitchen and bathrooms. The bonus room, equipped with a separate mini-split HVAC, is perfect for a home office, playroom, or man cave... endless possibilities! The large detached two-car garage has been insulated, drywalled, and wired with 120/240V, making it a fantastic workshop or storage space. With plenty of additional parking, there's room for everyone. Step inside to an open-concept floor plan filled with natural light and unobstructed sightlines—ideal for keeping an eye on little ones or entertaining guests. The kitchen is a cook's dream, featuring 42-inch white cabinets, granite countertops and backsplash, and stainless steel appliances. The bar top is perfect for casual meals, while the dining room offers a space for more formal gatherings. The spacious living area is designed for comfort and entertaining, seamlessly flowing to the expansive outdoor patio—perfect for alfresco dining, backyard barbecues, or simply unwinding. The large, fully fenced backyard provides ample space for kids and pets to play freely, and the additional storage shed keeps all your tools and toys organized. There's so much to love about this home! No City Taxes or HOA make this a perfect family home or investment property. Just off I 40, and only minutes to Wrightsville Beach, ILM, restaurants, shopping and more! Schedule your showing today and start your happily ever after right away!
Source: NORTHCAROLINAREGIONAL #100495515
Source: NORTHCAROLINAREGIONAL #100495515
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.