6815 Canal Dr, Emerald Isle, NC 28594
5 beds · 3 baths · 1,499 sqft
Home has been used as an AirBnB, it could make a great investment property. Located on a safe, quite street (no through fare). Sound side home with unobstructed view of the Intracoastal Waterway (ICW). Open concept living area with front side, and rear decks. Great for entertaining. Four bedrooms and 2 bathrooms upstairs. There is an in law suite upstairs that has a private entrance from the outside. There is a non-conforming area downstairs, (not included in the square footage), has a full bathroom with garden tub/shower, kitchenette, and huge walk in closet/laundry room. The detached garage had built in shelves that provides extra storage. There is a whole house water softener and filter. The outdoor shower is perfect for coming home from the beach and washing off the days sand. A pet washing station is equipped with hot and cold water to make it easy to clean off your pets. Home is a short distance from the beach and just yards away from a NC wildlife reserve and public boat launch. Adjacent to the boat ramp is the Jean Preston Memorial park. playground, and picnic area making this homes location top notch. NEW (never been used) generator that runs on Propane or gasoline will stay at house -It is connected the the MAIN Power Panel. This won't last long.
Source: NORTHCAROLINAREGIONAL #100495199
Financials
Source: NORTHCAROLINAREGIONAL #100495199
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.
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