6632 Prescott Shore Dr, Wake Forest, NC 27587
4 beds · 5 baths · 4,028 sqft sqft
Extraordinary Custom Parade of Homes Winner in the exclusive and peaceful Prescott neighborhood. Lower level features primary suite with custom moldings, bath includes cultured marble double vanity, soaking tub, tile shower with double shower heads. First floor guest suite with full bath, den office, a gourmet kitchen with an oversized cooking island/breakfast bar, spectacular black and gold 8-burner upscale gas range, quartz waterfall island, family room includes built-in shelving, modern gas fireplace and french doors access to screened-in back patio with vaulted ceilings, fan, curtains and more. Dining area with a sliding door to back-patio. First level also includes powder and laundry room. Upper floor features jack-and-jill beds and bath, and 2 bonus rooms featuring a separate custom ''kids dream'' one of a kind playroom and a full bath. One of the upstairs bedrooms features a 445.85 sq-ft unfinished storage room. Crown molding throughout, Plantation shutters in windows. Large fenced-in backyard with a pool/spa. Pool/spa has an automatic pool cover, playground in backyard included. Driveway can fit at least 6 cars, there is a 2 car attached garage, and a 2 car detached garage. Great location nearby all the greatness that the beautiful city of Wake Forest offers. A must see!
Source: TRIANGLEMLS #10056288
Interest rate and monthly payment estimated based on public records.
Source: TRIANGLEMLS #10056288
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step. Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #10056288