430 Ellis Rd SE Unit Lot #55 Bolivia, NC 28422
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About this home
***One person's loss is another's gain!!!*** Back on the market due to NO FAULT of the sellers. Buyers changed their minds. Come and discover 430 Ellis Road, boasting 1800 sq ft on a generous .59 acres. Situated on a wide corner lot at the end of Ellis Rd and the largest lot in neighborhood, this home offers privacy with wooded views and a fully fenced backyard. The back was thoughtfully designed for outdoor living. Koi pond, pergola, fire pit as well as plenty of room for a garden, pets and backyard entertaining. Plus there is a chicken coop and new large shed. The desirable ''Cali'' floor plan features one-level living with 4 bedrooms and 2 full bathrooms. The primary suite is conveniently separated from the secondary bedrooms for added privacy. The kitchen is spacious, featuring a large island, oversized single basin sink, trendy stone backsplash and a large pantry. All kitchen appliances plus the French door refrigerator are included in the sale. This well-maintained home incorporates Smart Home Technology, has 2 outdoor cameras and is already wired with a security system with ADT. Enjoy low taxes and low HOA dues in the peaceful, off the beaten path community of Knott's Landing. Conveniently located minutes from the Oak Island Bridge and Holden Beach, as well as Southport for dining and shopping. A short drive to Wilmington or Myrtle Beach. This property offers plenty of elbow room from neighboring homes and no thru traffic all in a family friendly neighborhood. And also qualifies for USDA 100 percent financing if buyer meets income requirements. Freshly painted & cleaned, this home is ready for it's new owners to move in!
Source: NORTHCAROLINAREGIONAL #100538063
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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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