740 Waterstone Dr, Wilmington, NC 28411
4 beds · 5 baths · 3,599 sqft
Coastal luxury living at its finest with this three story showcase home. Enjoy relaxing moments and beautiful sunsets on your multi-level porches with pond views and soothing fountain sounds. The 3 floor elevator ensures easy access to all levels of this thoughtfully designed home. The lower level offers a large recreation room with built in cabinetry, microwave, beverage center, and full bathroom, perfect for guests or entertaining friends and family. Sliding glass doors lead to a large stamped concrete patio with lovely pond views. The main living area features a gorgeous kitchen with quartz countertops, large pantry, and spacious open floor plan. Sliding glass doors expand the entire living room space to allow the natural light to warm the space. Wood beams add architectural detail along with the custom built ins on each side of the fireplace surrounded in granite. Your porch will be the envy of all the neighbors. You have space to eat, drink, entertain, and lounge in this enormous outdoor space. A bedroom and ensuite bathroom along with a powder room finish off this floor. The upper level features your oversized primary bedroom with its own private porch overlooking the pond. The primary bathroom has a spa like feel with a soaking tub and large shower with multiple shower heads. The custom closet has space for all your shoes and purses! Two more bedrooms, a full bathroom, and a laundry room finish this upper level. Never worry about storms or hurricanes with the whole home Generac generator! The garage also boasts an epoxy garage floor and mini split for perfect climate control. The Waterstone Amenities cater to an active lifestyle with a community pool, clubhouse, 1.5 mile walking trail, pickle ball courts, fire pits, kayak storage, day dock on Pages Creek, and Ibis Island where neighbors gather for social events and kids can play in the open field area. Schedule your appointment today and enjoy the tranquility Waterstone has to offer.
Source: NORTHCAROLINAREGIONAL #100497088
Financials
Source: Public records
Source: NORTHCAROLINAREGIONAL #100497088
To qualify, you must meet the current FHA or VA 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.