908 Royal Oaks Dr, Durham, NC 27712
3 beds · 2 baths · 2,164 sqft sqft
Nestled in the peaceful and sought-after Mason Woods neighborhood, this beautifully maintained home offers the perfect blend of comfort, convenience, and natural beauty. Sitting on nearly half an acre, the property features a spacious fenced backyard, perfect for outdoor activities or gardening. The large back deck and screened-in porch offer an ideal setting to unwind and enjoy the tranquil surroundings. Inside, the home boasts a warm and inviting atmosphere. The cozy wood-burning fireplace in the living room is the perfect spot to relax or entertain guests. A sunroom off the living area provides additional space for an office, playroom, or even a guest bedroom. The open layout ensures seamless flow between the kitchen, dining, and living areas. The kitchen is a standout with stylish butcher block countertops and plenty of storage and prep space. The first-floor master suite offers privacy and convenience, with easy access to the main living areas. Updates throughout the home include a new roof (October 2020), a new HVAC system (January 2021), and the installation of a french drain beneath the house (September 2020) for added peace of mind. Additional highlights include a storage building for extra space, a level lot with mature trees, and a location that provides easy access to nearby shopping, dining, and major roadways. Whether you're enjoying a peaceful morning in the screened-in porch, hosting a barbecue on the deck, or cozying up by the fire, this home offers a serene retreat in a highly desirable neighborhood.
Source: TRIANGLEMLS #10064183
Interest rate and monthly payment estimated based on public records.
Source: TRIANGLEMLS #10064183
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: #10064183
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.