402 Swaim Ct Salisbury, NC 28147
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About this home
Welcome to this exceptional townhome in the sought-after Castlewood subdivision! Boasting 2 bedrooms, 2.5 baths, 2 car garage and over 1,800 sf, this home offers comfort and convenience close to I-85, the hospital, dining, and shopping. The spacious living area features a brick fireplace and electric insert, leading to a bright sunroom—perfect for an office or relaxing nook. A large kitchen with stainless appliances and ample prep space is ideal for cooking and entertaining. The primary suite has a walk-in closet, double vanity, and marble-surround walk-in shower. The second bedroom is generous, with a tub/shower combo bath. The basement includes 442 sf of finished space with an extra half bath and a 268 sf workshop with utility sink. Don’t forget the enclosed crawl area for storage or a wine cellar! No worries about stairs—this home includes a mobile stair lift. Outside, enjoy beautiful landscaping and a peaceful setting. HVAC 2020—everything’s updated and move in ready!
Source: TRIADMLS #1183348
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.