1040 Sycamore St King, NC 27021
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About this home
Welcome to 1040 Sycamore, a serene retreat nestled on over 5 acres surrounded by mature trees. Enjoy peaceful mornings and evenings on the covered wood deck overlooking your own private pond that spans an acre. This beautiful home offers 3 bedrooms, 3.5 baths, and 2825 sq ft of comfortable living space. The large living room features dramatic windows that fill the space with natural light and a cozy fireplace perfect for holidays and entertaining along with a beautiful sunroom overlooking the water. The spacious kitchen includes tile countertops and backsplash, ideal for both everyday living and gatherings. Ceiling fans throughout provide year-round comfort. The owner’s suite offers a walk-in closet and en suite bath complete with a relaxing garden tub and separate walk-in shower. The 3 car garage has a finished bonus room, perfect for guests or a home office. A perfect blend of nature, comfort, and charm awaits you at 1040 Sycamore.
Source: TRIADMLS #1200473
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.