7308 Canal Dr, Emerald Isle, NC 28594
3 beds · 4 baths · sqft
Discover a vacation rental opportunity in Emerald Isle, North Carolina. Visit this charming home in Archers Point, owned by only one previous owner. Constructed in 1999, this 3-bedroom, 3.5-bathroom residence is nestled on 1.19 acres along Archers Creek. The property boasts a welcoming living space and direct creek access for canoeing and kayaking. A recently updated back deck provides a perfect setting for relaxation and entertainment. More than a house, it's a retreat for savoring life on the Isle. The ground level features an expansive garage with ample storage and a distinct living area, complete with an open layout, kitchenette, and a full bathroom with a walk-in shower. A mini-split HVAC system ensures comfort for the living space and garage, making it ideal for guests. Outside, a covered patio and an outdoor shower with a dedicated hot water tank add to the amenities. The main floor houses the master suite with a generous bathroom, a half bath, a living room with a fireplace, formal sitting and dining rooms, a well-appointed kitchen with a nook, plus a laundry, mud room, and pantry. Upstairs, two bedrooms, a full bathroom, and an office await, with plenty of storage throughout. Hardwood floors grace the main level, excluding the wet areas. The kitchen features granite countertops, built-in oven and microwave, a double sink, and stainless-steel appliances. Elegant crown molding adorns the first and second floors, while large windows on the first floor offer abundant light and picturesque water views. This home's location is conveniently close to Emerald Isle's primary shopping and dining spots, as well as Bogue Pier. A public boat launch is also nearby, just off Emerald Drive. Please contact your realtor or the listing agent for additional information on file regarding this property. The seller is offering a home warranty. Note that the washer, dryer, and black refrigerator in the laundry room are not included. The home warranty is valued up to $850.00. The property is situated in an AE flood zone. The water depth at the dock's end ranges from 2 to 2.5 feet, subject to tidal changes. A separate living area on the ground level accounts for 644 of the total heated square footage. However, due to the property being in a flood zone, this ground floor square footage may not be considered in the appraisal.
Source: NORTHCAROLINAREGIONAL #100451523
Interest rate and monthly payment estimated based on public records.
Source: NORTHCAROLINAREGIONAL #100451523
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: #100451523
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