105 2nd Ave SW Catawba, NC 28609
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About this home
Come home to the heart of Catawba! A Seller paid paint allowance will help kickstart your plans for this 4-bedroom, 2 bath home situated on 1.38 acres. Built in 1900, this home offers generous square footage with a first-floor primary with attached bath and an adjoining sitting room. A parlor area connects to the dining room through a door with beautiful wood lattice work, and the Kitchen connects to an entry room with convenient laundry hookups. A beautiful sunroom rounds out the first floor. Upstairs you'll find three additional bedrooms with lots of natural light, a stained-glass window, and a second full bathroom. Outside there is a detached garage workshop with lean to, a private courtyard area with a coy pond, and room to explore! Located just steps (literally!) from downtown Catawba which offers a small general store, a live music venue, pub restaurants, an ice cream parlor, and antiques and boutique shopping. This tiny town loves its residents, and hosts year-round events like parades and car cruise ins, as well as seasonal events like 'Treats in the Streets' and its 'Small Town Tree Lighting' ceremony. Even Santa has been known to ride through the streets of Catawba on his way to the North Pole each year, and you'll surely be on his nice after restoring this historical home!
Source: CANOPYMLS #4315128
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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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