4702 Rum Runners Ct SE, Southport, NC 28461
4 beds · 2 baths · 1,888 sqft
Experience the perfect blend of convenience, coastal living, and recent updates in this spacious open-plan retreat! Recent updates include fresh interior paint in common area, new LVP flooring in common areas and bedrooms on primary level, new dishwasher, range and microwave and back patio. NEW ROOF to be installed April 2025! With just under 1,900 sq. ft. - this common area lives large thanks to the open plan, vaulted ceiling in the living area (with a fireplace), charming breakfast nook, kitchen and formal dining area with chair rail detail. It's light, bright and perfect for relaxing or entertaining. The primary suite offers a vaulted ceiling, double vanity, shower and separate tub & walk in closet and linen closet for convenience. On the opposite side of the home, two additional bedrooms share a second full bath. Upstairs, there's a flex room - it could be a 4th bedroom, media room, office, etc. Located in a cul-de-sac, on a corner lot with a 2 car garage, you don't want to miss out on this one. Just 15 minutes from downtown Southport with numerous dining and shopping options and less than 10 minutes over the bridge to put your toes in the sand at Oak Island!
Source: NORTHCAROLINAREGIONAL #100488471
Financials
Source: NORTHCAROLINAREGIONAL #100488471
Source: Public records
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%. 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.
Other resourcesWhat 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.