3430 Rose Creek Rd Morganton, NC 28655
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About this home
Price Increase due to addition of additional land and 2nd cabin plus outbuildings. Looking for a NC Mtn VRBO Property. Two furnished cabins located just off Hwy 181 at Rose Creek. Tucked away in the woods you'll have the perfect combination of peaceful, quietness and get to enjoy the love of nature and the outdoors. Main A-frame cabin is apx 1414sqft with 2 BRs, 1.5 Baths plus a loft that is set up with additional beds for extra quests. Private side courtyard. Large covered front porch. The 2nd cabin is a small one room cabin with kitchen/BR/LR combination and full bath. It has everything necessary for a comfortable stay. Both driveways are gated and surrounded by beautiful forest. There is a 3rd 2-story structure that isn't complete but would be an awesome cabin for additional future rental. There is also 2 large storage buildings. The property will consists of apx 5 acres+- and will taken from the current survey of property as shown in the associated documents. Close proximity to Linville, Beech Mtn, Grandfather Mtn and many of the other beautiful mountain communities.
Source: CANOPYMLS #4273174
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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.
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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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