912 Exum St, Durham, NC 27701
3 beds · 3 baths · 2,272 sqft
LOCATION. LOCATION. LOCATION. Lovely Burch Ave Neighborhood renovation with a light-filled, flexible layout. Your choice: an ample single family space or an upper / lower unit duplex floorplan. This space can adapt to your household's changing needs! Total renovation in 2014 (w/ permits!) =new electrical, plumbing, roof, insulation, windows, drywall, and major systems & appliances. Salvageable wood floors repaired & refurbished; new interior paint throughout. Lovely large windows throughout. Great connection between large main floor kitchen and Living + Dining spaces. Great privacy layout for bedroom, all of which have windows on 2 sides & decent closet space. Huge screened porch with side grill deck and lower level covered entertaining area underneath. Walk-in-Closets both upstairs and under the stairs for max storage options. Extended eaves, gutter guards + drainage and downspout management system in place to route water away from the foundation. Lower level 1 bedroom unit has separate exterior entrance, a full kitchen + living area + laundry, its own utility meters, covered outdoor entertaining space, and can be made into a completely distinct apartment = just re-install the heavy separation door. Fantastic home in an outstanding walkable location: less then 1 mile from Duke Campuses and Downtown Durham / City center. 2 minute walk to the 6 bus line. 4 minute walk to the Burch Ave Park, Durham Co-Op, and Grub eatery. 5 minute walk to Isaac's Bagels and a Middle Easter Grocery store. Easy access to 147 / Durham Freeway and then you're a 10-15 minutes drive from Research Triangle Park, Duke and UNC campuses and hospitals, and endless food, shopping, and entertainment options. Gem of a listing!
Source: TRIANGLEMLS #10037270
Interest rate and monthly payment estimated based on public records.
Source: TRIANGLEMLS #10037270
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: #10037270
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.