5419 Dunmore Rd Wilmington, NC 28409
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About this home
ASSUMABLE 3.25 PERCENT MORTAGE OPPORTUNITY FOR QUALIFYING BUYERS. Welcome to the neighborhood of Halcyon Forest and this beautiful family home. You will instantly love the location nestled in the highly sought after Masonboro community. If schools are important to your family, you will cherish the ability to walk or bike to the coveted Masonboro Elementary School and finish at top ranked Hoggard High School. This well-maintained home offers a generous 4 bedrooms, 3 full bathrooms and a flexible floorplan. Once inside you will find a spacious interior offering over 2300 sq ft., large living areas, real hardwood floors refinished in 2019, vaulted ceilings and skylights all around enhancing the natural lighting. Enjoy a spacious living room with a cozy fireplace and a large palladium window illuminating the entire room. Open to the living room is a large formal dining room where you will enjoy french doors that lead to an amazing screened in porch. The kitchen is complete with white cabinetry, many new appliances, beautiful floating shelves and a sunny breakfast nook overlooking the backyard. The downstairs master features expansive space, his and her closets, calming colors, and a dedicated access door leading to a wonderful outside deck. The ensuite bathroom includes a dual vanity, dedicated shower, and a separate whirlpool tub. Also located on the first floor, bedrooms two and three share a full bathroom. Upstairs you will find a large bonus room, the fourth bedroom, and another full bathroom perfect for a mother-in-law/teen suite or a flex space to easily adapt to your needs. Outdoor living shines with an expansive screened porch leading to an open deck perfect for grilling/entertaining. Enjoy hard to find privacy in your fenced in backyard with a fire pit, a lush garden area and shed. Other features include a roof installed in 2019, an oversized 2 car garage with shelving, large driveway, many new light fixtures and vinyl shake exterior. Must see today!
Source: NORTHCAROLINAREGIONAL #100524580
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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.