506 Ford St Kannapolis, NC 28083
Your savings
About this home
Charming and Fully renovated 4-bed, 2-bath home, Tax Card list this home as 3 bedroom, 2 full baths. Features an open layout that flows throughout the main living areas enhanced by a spacious den, dining area, and an extra large kitchen. Has been freshly painted throughout, with New Engineered Bamboo Flooring with new Floor vents throughout, and Water Resistant Laminate Plank Flooring in the Kitchen and Vinyl Flooring in the Bathrooms. Has New Kitchen Sink, Faucet, and Countertops, new refrigerator, dishwasher.. Gas Water Heater installed in 2019, and the Roof was installed in 2023. The home has New light fixtures, and recently replaced windows throughout. One of the hvac units have been replaced 2-3 years ago per previous owner. There’s a balcony on second floor, a 2 car detached garage with attached storage room in the rear of the property, and a Moisture barrier in the crawlspace. Conveniently located, minutes away from dining, shopping, and entertainment! Move in and enjoy.
Source: TRIADMLS #1190077
Neighborhood
45-day close guarantee
Close stress-free in 45 days, handled start to finish by Roam.
Roam Price Match
If you find a better price on any home, we’ll match it.
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.