1011 Lake Shore Dr Belmont, NC 28012
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About this home
Have you been dreaming of a cozy log cabin retreat with your own private lake and sparkling pool — but don’t want to spend a fortune to get it? Then “The Bearly Wise” cabin may be the hidden gem you’ve been waiting for! Tucked away on a private lake perfect for kayaking, canoeing, paddle boarding and fishing, this stunning cabin is just minutes from Charlotte, dining, and shopping — offering the perfect blend of seclusion and convenience. The community offers a boat dock to Lake Wylie for more lake actives and boating on the weekends. No HOA so you can house your boat at the cabin. Inside, you’ll find full log construction, beautiful stone accents, elegant crystal chandeliers, a rustic antler chandelier, and a wood-burning fireplace that’s perfect for cozy nights in. Two luxurious bathrooms, one features a stone-surrounded garden tub, double sinks, walk in shower & barn door and the other features a deep tub/shower combo with pebble and travertine accents, high end cabinetry and a cedar closet with a sparkling crystal chandelier -every detail showcases true craftsmanship. Step outside to your own backyard oasis: a huge pool and deck, a charming pergola, and a large detached garage — ideal for cars & trucks, hobbies, or extra storage. Recent updates include a brand-new roof, newer HVAC, new well pump, and a freshly stained exterior, new pool liner, new pool pump and filter ensuring peace of mind for years to come. Use the loft and basement flex room for a 3rd and 4th bedroom for an air bnb. Previously used as a wine cellar and later as a bedroom. Wine cellar cabinet can be reinstalled if desired. If a spiral staircase isn’t your preference it could be potentially replaced with a traditional staircase at a relatively modest cost by our contractor. Agent owned. Don’t miss your chance to own this lakeside escape!
Source: CANOPYMLS #4311682
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FAQs
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.
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.
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.
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.
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 “Save search” 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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
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