436 Wolfpoint Ext Fayetteville, NC 28311
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About this home
Once in a lifetime opportunity to live so close to town while still feeling peacefully tucked away in the country. Secluded on almost 3 acres of land, you will love the privacy and quiet life on your mini farm. Welcome to the charm of this 1945 farmhouse: wood floors in most of the home except 1 bedroom and kitchen and dining area; fireplace in cozy living room with stunning view to your front yard, with a great tree swing that will remind you of grandma's house. You have your primary bedroom and bath at the back of the home with 2 others off the hall and a shared bath. On the other side of the home, close to the living area, you have a room with a closet that could be a great home office. Next to the kitchen you have an area for casual seating, a large dining table, or even a pool table--your choice. Outside, the sellers put up a 30 x 50 workshop but did not get the chance to finish it. It needs doors and electricity, but then you'll be all set for your perfect workshop, hobby shop, or car repair area. You also have a barn and pasture for your horses or animals if you are inclined. There is a 100-meter shooting range per the seller. (I would not know about it to tell you more but if you have questions please let me know and I will ask.) The property is fenced with a wire metal mesh fence to keep in your larger animals, as well as a gated driveway to keep out those pesky solicitors. This home backs up to Carvers Creek State Park.
Source: TRIANGLEMLS #LP752887
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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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