2856 Gwyn Rd Elon, NC 27244
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About this home
Back on Market - No Fault of Seller! Welcome to 2856 Gwyn Rd, a rare 22.9-acre farmstead that seamlessly combines modern living with outstanding agricultural potential. This fully updated 3-bed, 2-bath home offers 1,459 sq. ft. of tasteful upgrades, including engineered hardwood floors, soft neutral finishes, updated lighting, remodeled bathrooms, and new kitchen countertops. Recently updated Heating & Air system (2024) ensures year-round comfort. The thoughtful layout features an oversized laundry/mudroom, a cozy screened porch, and a wraparound front porch that invites you to relax and take in the peaceful countryside views. The property is currently in vegetable production and is well-suited for livestock, equestrian pursuits, or simply enjoying a serene rural lifestyle. At the rear, a scenic 2-acre pond with a rustic cabin offers the perfect setting for fishing, quiet reflection, or gathering with friends and family. Agricultural & Recreational Infrastructure: This farm is ready to support a wide range of uses with a climate-controlled greenhouse, commercial cold storage, a CoolBot walk-in cooler with processing area, two historic tobacco barns, and a 12-stall horse/mule barn. Additional structures include a five-bay detached aluminum garage, three-bay tractor barn, three storage sheds, and a high tunnel. The land is improved with fencing, two above-ground propane tanks, and dual electric meters for flexibility. With fertile soil, robust infrastructure, and a blend of charm and utility, 2856 Gwyn Rd is ideal for your next chapter—whether you envision a working farm, equestrian haven, or private countryside retreat.
Source: TRIANGLEMLS #10122462
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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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