821 Rock Spring Rd Fayetteville, NC 28314
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About this home
Beautiful 3 Bedroom, 2 full bath bi-level ranch home located in the center of everything. Minutes from Cross Creek Mall, simple access to All American Freeway, nestled conveniently between Raeford Rd. and Cliffdale Rd aligned with Hope Mills Rd and Glensford Rd. Home features a lot of space with spacious bedrooms. Large family room is located just off of the front foyer boasting large window and plenty of wall space for placing furniture. Eat in kitchen has bar area for dining and is open to room that could be utilized as a dining room or den since it has a masonry Fireplace. Two steps take you up the bedroom/bath area with laundry closet smartly located center of the hallway. Recent updates to both bathrooms with new flooring and vanity in hall bath and new vanity in the master bath area. Outside storage building and also and attached storage room at the rear of the home. Established lawn and shrubbery, fenced back yard with large patio area. Home is being sold as is at this price, but seller would consider some improvements with additional price. Home serves as a great template to put your own design plans into effect. Perform before you move in or home is in good condition to immediately occupy and and perform your ideas at a later date and take advantage of the below value list price. A must see for the DIY buyer looking for room for sweat equity.
Source: TRIANGLEMLS #LP751140
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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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