6500 Old Providence Rd Charlotte, NC 28226
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About this home
**UPDATED** New recessed lighting installed, fresh paint on the bottom floor, and new carpet in the downstairs bedroom. Additional pictures reflecting updates coming soon. With interest rates dropping to the lowest they have been in over 2yrs, now is the time to buy! Located in the beautiful Olde Providence neighborhood, your next home boasts an almost acre lot with over 2700sqft of finished living space. Gorgeous wood floors on the main floor and an opened up kitchen are just the start. Make this home your modern oasis or recapture the 1960s charm! Do you work or play in South Park, MoRa, Matthews, Uptown, or Ballantyne; be right in the heart of it all - the shopping, the schools, the dining, the places of worship, the corporations... Looking to build an in-law suite or nanny living quarters, or bring in a second income? N1-A zoning gives you flexibility. The white exterior is limewashing and can be pressure-washed off, if the original red brick is your preference. Please see pictures. Qualifying, assumable FHA loan, 3.125%, apprx $298K Agents please review additional agent remarks.
Source: CANOPYMLS #4289667
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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.