3181 Island Dr SE Bolivia, NC 28422
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About this home
Investor Alert: Prime Fixer Opportunity in Gated River Run Plantation Priced to Sell Attention contractors, flippers, and savvy investors — this spacious 3-bedroom, 2.5-bath home in the desirable River Run Plantation community offers incredible potential with the right vision and updates. Situated on a private 0.65-acre lot with a peaceful pond view, this property is ready for someone to bring it back to life and maximize its value. With 2,300+ square feet of living space, the home features a well-designed floor plan that includes a large primary suite on the main level, formal dining and office areas, and an oversized bonus room upstairs. A screened porch and back deck overlook the water, offering a serene backdrop for a future showpiece home. The climate-controlled workshop/shed is perfect for tools, storage, or a hobby space during renovation. River Run Plantation is a gated coastal community offering amenities including a pool, clubhouse, tennis and basketball courts, playground, and access to the Lockwood Folly River via community launch and fishing pier. Whether you're looking for your next flip project or long-term hold, this property checks the boxes: sought-after location and room for equity growth. A little work here could go a long way. This home offers a rare opportunity to embrace the laid-back coastal lifestyle you've always dreamed of, all within the highly desirable River Run Plantation community. Don't miss out on making this coastal sanctuary your own - your perfect escape to relaxation and recreation awaits!
Source: NORTHCAROLINAREGIONAL #100497735
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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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