610 Small Dr Elizabeth City, NC 27909
Your savings
About this home
Waterfront Paradise with Pool, Pier & Boat Lift - Newbegun Land - Elizabeth City, NC Assumable 2.75 percent VA Loan This home was designed for those who dream of living outside on the water. Step into your backyard and enjoy breathtaking wide-river views, and a fiberglass inground saltwater sport pool. Launch your boat from the private pier with lift, fish at sunset, or entertain friends on the screened-in porch and grilling deck — all while surrounded by a spacious yard and circle driveway that make gatherings effortless. Inside, you'll find over 6,,000 sq. ft. of living space with elegance at every turn. The grand foyer with its three-story staircase and granite flooring sets the tone, leading into hardwood floors, a formal dining room, a fire-lit den, and even private office and bonus rooms. Upstairs, the FROG bonus room offers flexibility for hobbies or guests. The primary suite is a retreat, featuring a walk-in shower, whirlpool jet tub, and thoughtful touches throughout. Every day feels like vacation — whether you're boating, swimming, or simply relaxing on the porch with the river breeze.
Source: NORTHCAROLINAREGIONAL #100528154
Loan details
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.