556 Great Ridge Pkwy Chapel Hill, NC 27516
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About this home
2.5% Assumable VA Loan — a rare financing opportunity! Welcome to your next home in the sought-after Briar Chapel community — a beautifully maintained single-family home offering 3 bedrooms, 2½ baths, and an open-concept layout designed for entertaining and easy living. The living room with a cozy fireplace flows seamlessly into a deluxe kitchen featuring granite countertops, stainless-steel appliances, a gas range, and great storage. A versatile nook can be used as a home office or bar, and the dining room's bold accent wall adds the perfect touch of character and warmth. Upstairs, you'll find the primary suite with a private en suite bath and dual walk-in closets, plus two guest bedrooms connected by a Jack-and-Jill bathroom. Out back, enjoy a fully fenced yard complete with a built-in stainless-steel grill with stone façade — a griller's dream setup — and a detached storage shed for all your gear and tools. One of the best-priced homes in all of Briar Chapel, this property blends value, functionality, and style in one of the Triangle's premier master-planned communities. Living in Briar Chapel means access to it all: resort-style pools with dual slides and lap lanes, more than 20 miles of scenic trails, multiple parks and playgrounds, tennis, pickleball, and basketball courts, and a vibrant calendar of community events like farmers markets and outdoor concerts. The Veranda District nearby offers shopping, dining, and a true small-town vibe just minutes from Chapel Hill and Pittsboro.
Source: TRIANGLEMLS #10129109
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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.