4318 Allenby Pl Monroe, NC 28110
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About this home
WATCH VIDEO TOUR (to find on Zillow go to facts & features - show more)! Incredibly spacious and open 5 bedroom home with fully fenced in backyard in a family friendly community! Home welcomes you in past covered rocking chair front porch into formal entryway with flex room/ private office to your left. As you continue in, you'll find the main living area fully open with tons of natural light, wood plank flooring, and recessed lighting throughout. Large kitchen has tons of cabinets, counter space & full pantry for endless storage + center island with breakfast bar seating & matching S.S appliances including gas range. Main level also has full bed & bath ideal for in-law suite or guests. Upstairs find a large loft landing, ideal for play area or media space. Primary bedroom has vaulted ceiling and attached spa-like bath with stand-up glass shower, soaking tub, dual sinks & walk-in closet. 3 additional rooms upstairs and full hall bath makes this the perfect home for hosting large family gatherings. Out back, sellers have added an awning to the patio for year-round comfort plus a full fence great for privacy. HUGE 3 car garage also provides unlimited storage! Community features outdoor pool, playground, and splash-pad for incredible summer memories. All within a great Union County School zone & perfectly situated between Matthews & Monroe for convenience to everything! PHOTOS TO COME!
Source: CANOPYMLS #4300522
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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.