315 Orchard Dr Elizabeth City, NC 27909
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About this home
Discover 315 Orchard Drive, set on over an acre in the sought-after Orchard Cove community of Weeksville. Just beyond city limits, this property blends space, comfort, and a scenic neighborhood setting. Inside, you'll find more than 2,000 square feet with 3 bedrooms and 2.5 baths. The kitchen is a true highlight with quartz counters, an eat-in bar, and easy flow into the dining area. A formal dining room gives you options for entertaining, while the oversized living room is ideal for everything from gatherings to quiet nights in. All bedrooms are upstairs, including the primary suite with two walk-in closets, one spacious enough to be used as an office, giving you flexibility to suit your needs. The en-suite bath includes a soaking tub and walk-in shower for a spa-like retreat. Outdoor living shines here, too. A screened porch lets you enjoy fresh air in comfort year-round, while the large yard, two-car garage, and extra storage shed provide plenty of room for hobbies and activities. Residents of Orchard Cove enjoy access to waterfront trails, community piers, and spaces to gather around a fire pit or picnic near the water. Call and schedule your showing today!
Source: NORTHCAROLINAREGIONAL #100527508
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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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