5515 Old Powell Rd, Holly Springs, NC 27540
3 beds · 2 baths · 1,555 sqft
Welcome to your new brick ranch home on nearly 3/4 of an acre with no HOA and minutes to Highway 55 in Holly Springs! This sun-filled, comfy home offers lots of (newer) windows, real hardwood floors, great livings spaces, large bedrooms and two full bathrooms. The recently completed stone fireplace wall with newer wood-burning FP and built-ins provides a cozy family/living room, while the formal area can work as a living or dining space, or both! Just off the big functional kitchen is a large laundry and pantry area with tons of storage. You'll really like the huge attached garage with plenty of room for storage and workshop space, and you'll really love the outside, with a large custom patio w/ pavers and Pergola for shade, plus the recent addition of a barn-style shed. If you like gardening and landscaping or just enjoying the land, there's lots and lots of open and flat yard space to do your thing. And with distant neighbors and a farm across the street, you'll enjoy your new oasis with privacy. Although there are some easy and minimal projects, with so many new and recent updates including a new refrigerator, water heater, breaker panel and outlets, newer roof, gutters, gutter guards and windows, this charming home is move-in ready today, and also ready for your personal touches. With so much space both inside and out, this lovely home is ready for lots of entertaining, or just hanging out and keeping it casual. Close to all, but you'd never know it even when hanging out in the yard.
Source: TRIANGLEMLS #10066228
Interest rate and monthly payment estimated based on public records.
Source: TRIANGLEMLS #10066228
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: #10066228
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.