723 Olde England Dr Lincolnton, NC 28092
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About this home
The Kephart floorplan is a spacious and well-designed home encompassing 1939 heated square feet. It features a thoughtful layout with three bedrooms and two and a half baths, offering ample space for comfortable living. The floorplan emphasizes an open concept, creating a seamless flow between different areas of the house. The family room is adorned with an electric linear fireplace, providing both aesthetic appeal and a cozy atmosphere. Adjacent to the family room is the kitchen, which boasts elegant quartz countertops and an island. Upstairs, you'll find a loft area, perfect for use as a recreational space, home office, or additional seating area. This Kephart floorplan is located within a community that provides a variety of amenities. Residents can enjoy a refreshing pool, ideal for leisurely swims or socializing with neighbors. Additionally, a dog park, playground, and activity field are available, offering spaces for outdoor gatherings, activities, and entertaining.
Source: CANOPYMLS #4295018
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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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