1 of 24
$255,000

4950 James Stewart Rd, Morganton, NC 28655

3 beds · 2 baths · sqft

Welcome to this charming 3-bedroom, 2-bath home, designed for comfortable single-level living. Step inside and be welcomed by a spacious kitchen featuring a large pantry with shelving and a dining area that opens into the cozy living room—perfect for relaxing by the fireplace on cool fall nights. Down the hall you’ll find two bedrooms, a full bath, and a laundry room with included washer and dryer. The generous master suite offers an en-suite bath and a bright sunroom, ideal for reading with a favorite drink in hand. Outside, the fenced-in backyard offers privacy and a great space for outdoor activities, while the expansive, covered front porch is perfect for enjoying your morning coffee. This cozy retreat is ready for its new owner!

Interest rate 3
2.78%
With Roam
7%
The seller’s mortgage rate at the time the loan was originated.
Monthly payment 3
$617
With Roam
$964
Reduce your monthly payments by $347 when you assume this mortgage.
You also save $111,872 in total interest paid.
$115,054
Edit

You may be able to put down less than the total down payment amount of $115,054 and have the rest of the funds financed with a 2nd mortgage from a lender. 4

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.
45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.
Location
Details
Home
Year built
1982
Type
Single Family Residence

Source: CANOPYMLS #4195174

Loan
Remaining term
26 years, 10 months
Rate
2.78%
Monthly P&I
$617
Remaining loan balance
$139,945

Source: Public records

How it works

Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.

Tour

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.

Offer

Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.

Close

Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.

Who can qualify

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.

Frequently asked questions

What is Roam?

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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?

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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?

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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?

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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?

expand content

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.

View all FAQs
Resources
Last updated: Nov 23, 2024 06:08 am
Listing agent: Blythe Walker
Listing provided courtesy of: Nest Realty Morganton (828) 368-4898
Details provided by CANOPYMLS and may not match the public record.
MLS ID: #4195174
Listings courtesy of Canopy MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided for consumers' personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright © 2024 MLS GRID. All Rights Reserved.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 30 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
Interest rate 3
2.78%
With Roam
7%
The seller’s mortgage rate at the time the loan was originated.
Monthly payment 3
$617
With Roam
$964
Reduce your monthly payments by $347 when you assume this mortgage.
You also save $111,872 in total interest paid.
$115,054
Edit

You may be able to put down less than the total down payment amount of $115,054 and have the rest of the funds financed with a 2nd mortgage from a lender. 4

Interest rate and monthly payment estimated based on public records.

$617/mo
View details