803 Edmund St, Raleigh, NC 27604
3 beds · 2 baths · 1,216 sqft sqft
Welcome to this charming home brimming with potential in the heart of Raleigh. This delightful property offers a fantastic location, providing easy access to the vibrant downtown area, top-rated schools, and a plethora of amenities in the walkable Brookside Shopping Center one block away - Otomi Mexican Fare, Optimist Coffee Shop and others. Minutes from the Oakwood Dog Park too! Upon arrival, you'll be greeted by a well-maintained exterior and a spacious backyard that holds immense potential for creating an outdoor oasis, whether it's for gardening, entertaining, or simply unwinding in a serene setting. This home also is surrounded by a wooded area in the backyard, so you don't look into anyone else's home, which is so rare in a downtown setting. Step inside to discover a versatile floor plan that presents an excellent opportunity for customization and personalization. The interior boasts a hard to find two full bathrooms, vaulted ceilings in the renovated kitchen and eating area and a primary suite separate from the guest beds. Speaking of guest beds, this is a 3 bedroom home, so there are actually two of them instead of the more common 2 bedroom homes in this price point. Priced appropriately for so many potential uses...possibly that first time home buyer looking to get started and add their personal touches, or an investor looking to do a renovation and addition, or possibly even a builder looking to build a dream home for someone else. Even an investor looking to do a short-term rental with no HOA or invest in the future with a cash-flowing long term tenant. Don't miss the chance to transform this promising property into your dream home. Embrace the endless possibilities that await at 803 Edmund Street and make this prime location your own!
Source: TRIANGLEMLS #10050765
Interest rate and monthly payment estimated based on public records.
Source: TRIANGLEMLS #10050765
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: #10050765