7148 Arbor Oaks Dr, Wilmington, NC 28411
4 beds · 3 baths · sqft sqft
A rare find in Cottage Grove! This brick coastal craftsman style home has an open floor plan for today's living. This 2017 built 4 bedroom home is a great place to call home with many upgraded features. Custom plantation shutters, auto privacy shades along with extra trim and lighting bonuses. Stuning engineered wood floors throughout the first level. Open living area has volume ceiling with gas log fireplace and built in bookcase surrounding it. The kitchen features granite tops, center bar island, glass backsplash, gas cook-top, wall oven, refrigerator, dishwasher, and built in microwave to round off the full appliance package. along with a pantry and a Breakfast nook surrounded by windows. his home also features a formal dining room, three ground level bedrooms including the elegant master suite witht trey ceiling and stylish bath witht upgraded walk in tile shower and both walk-in and hang up closets. Then there are split matching guest bedrooms with a bath in between. baths. 4th bedroom or bonus room has private bath. Upstairs also features walk in attic storage. Then there is a 2 car garage with attached workshop. The relaxing screened porch and patio overlook a wooded backyard area with well maintained landscape. One of a kind neighborhood setting that is walking distance to community shopping and dining. Water access is close by. This is a rare opportunity!
Source: NORTHCAROLINAREGIONAL #100471280
Interest rate and monthly payment estimated based on public records.
Source: NORTHCAROLINAREGIONAL #100471280
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: #100471280