1559 Broderick St NW Concord, NC 28027
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About this home
MOTIVATED SELLER! This 5-bedroom, 3-bath home is move-in ready with a guest bedroom and full bathroom on the main level - perfect for visiting in-laws. This home offers formal dining and living room spaces. The heart of the home is the 2-story open-concept family room, featuring high ceilings, abundant natural light, and views of the dual staircase and catwalk. Large primary suite, with spacious sitting room. Primary bathroom has been upgraded with new tile floors (Sept. 2025) and has a separate shower, and a relaxing garden tub. The primary bedroom closet has a custom-built closet system. Additional secondary bedrooms upstairs offer versatile space for family, guests, a home office, or gym. The entire home benefits from a water filtration system. Bathroom vanity sinks throughout the home replaced in 2024. The spacious kitchen offers ample counter space, beautiful cabinets, an island, and brand-new stainless steel appliances (Sept. 2025). Enjoy outdoor living with a spacious fenced backyard, equipped with front lawn irrigation system. The mechanics of this home have been thoughtfully updated or replaced to provide peace of mind and value: New roof (June 2025), downstairs AC replaced (2024), furnace replaced (2023), water heater replaced (2024), all smoke/carbon monoxide detectors replaced (2024). BONUS: Seller is offering a $2,000 credit towards rate buy-down, closing costs, or flooring allowance, PLUS a $600 home warranty for added peace of mind. Home is walking distance to the club house and amenity center with water park. Don’t miss the opportunity to fall in love and make this home yours! School assignment is per Cabarrus County school site.
Source: CANOPYMLS #4297805
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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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