8977 Cobble Ridge Dr, Wilmington, NC 28411
5 beds · 5 baths · 3,865 sqft
Welcome to 8977 Cobble Ridge Drive, a beautifully designed home nestled in a quiet cul-de-sac in the sought-after Scott's Hill Village community. Boasting 5 bedrooms, a dedicated home office, a versatile flex room, a sunroom, and a mudroom, this home offers abundant space and thoughtful design for modern living. Situated on the largest lot in the neighborhood, this property is a true retreat, complete with a privacy fenced back yard, a stunning koi pond for ultimate tranquility, a spacious 16x12 storage shed, and tasteful finishes throughout. The chef's kitchen is a culinary dream, featuring a five-burner gas cooktop, a pot filler, and premium appliances—perfect for those who love to cook and entertain. The primary suite includes a private balcony, great for your morning coffee or an evening beverage and the primary bathroom has a custom layout including two walk in closets, a beautiful sleek soaking tub, dual vanity, and walk in tile shower. Located in a natural gas community, this home is as efficient as it is stylish. Enjoy the charm of a peaceful cul-de-sac setting while still being conveniently close to top-rated schools, shopping, dining, and the beautiful coastal attractions of North Carolina. Neighborhood Perks include the following: - Sparkling community pool for endless summer fun - Walk your kids to ALA Coastal Charter School just minutes away - Ride bikes or stroll to local coffee and tea shops, a beer garden, and the farmers market -Explore Abbey Nature Preserve, offering some of the coast's most breathtaking hiking trails - A quick car ride to Sailfish Marina and Restaurant, located at the end of the loop, for fresh seafood and stunning waterfront dining This rare opportunity to own a home with unmatched space, elegance, and a serene outdoor retreat won't last long—schedule your private showing today!
Source: NORTHCAROLINAREGIONAL #100498758
Financials
Source: Public records
Source: NORTHCAROLINAREGIONAL #100498758
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.