615 E 3rd Ave Red Springs, NC 28377
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About this home
Welcome to 615 E 3rd Ave in Red Springs, NC, A Rare Homestead Retreat on 3.82 Acres!?This VA-eligible brick ranch home is a one-of-a-kind opportunity to enjoy sustainable living while being just minutes from downtown Red Springs. Nestled down a private drive and surrounded by mature trees, this property offers the charm of rural life with the convenience of in-town access.The property includes a resurfaced driveway with large gate, lush landscaping, a large back deck, and a fenced-in yard. There is also a two-car garage and a full RV hookup with 50-amp electric, water, and sewer.Buyers will appreciate the low-VOC interior finishes, including steel-troweled lime plaster on walls and ceilings. Lime plaster is a natural, moisture regulating product, making it antimicrobial and mold-resistant! The home features red oak and hickory hardwood floors throughout and custom concrete countertops.Inside, the single-story ranch layout offers spacious living with vaulted ceiling, a slate-tiled entryway, formal dining room, and a living room with fireplace. Just off of the kitchen is the convenient laundry/mudroom. Down the hall is the primary suite which features a private bath, walk-in closet, and serene backyard views. There are two additional bedrooms and a full hallway bathroom to finish off the space. The property’s outdoor features are truly special. A mineral water soaking pool, fed by a local artesian well, is the perfect peaceful retreat. Established garden beds flourish with over 50 mature strawberry plants, blueberry bushes, apple and fig trees, with additional space for future planting. A gently flowing stream runs through one of the paddocks, providing a natural water source for ducks and goats and there are three additional gated paddocks each equipped with animal shelters. There is also an electric fence strung along the top portion of the pallet fence that surrounds the entire acre, making it ideal for household pets or small farm animals.Additional upgrades also worth mentioning include a new geothermal HVAC installed in 2024 with 2 units split between the two halves of the house. New flashing around chimney and gables replaced with cement board. There have also been various updated plumbing fixtures, electrical outlets, and lighting throughout the home.This move-in-ready home is the perfect spot for the farmette of your dreams. Schedule your private showing today!
Source: TRIANGLEMLS #LP752563
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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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