Beautiful low country home in the gated Sago Plantation at Legends neighborhood with over 2850 heated square feet of upgraded living space on a corner lot. The stacked stone pillars on the large front porch, beautifully landscaped yard, and oversized side-load garage welcome you home. This home offers 4 bedrooms, 3 baths, formal dining room, an office, open concept kitchen/great room, and screen porch. The gourmet kitchen is a dream with roll out cabinet drawers, large island, tiled backsplash, granite countertops, stainless steel appliances, two pantries, and upgraded 36 inch cabinets. There are hardwood floors throughout the first floor living area, tile flooring in bathrooms, crown molding, custom built-in shelving, cozy gas fireplace, updated light fixtures/ceiling fans throughout, and storage galore. The spacious owners' suite is located on the first floor and has a large closet, tray ceiling, separate garden tub, double sinks, private toilet room, and tiled shower with glass door. There is also a second guest bedroom on the first floor with another full bathroom featuring wainscoting. Guest bedrooms 3 and 4 are upstairs with a third full bathroom. Every bedroom has huge closets and there are 3 extra attic storage spaces that are easily accessible from the second floor and one contains the efficient 2024 tankless electric water heater. The landscaping has been refreshed with new lush bushes, low maintenance river rocks, concrete curbing, whole house gutters, and a separate water meter just for irrigation. Sago Plantation at Legends is in the Carolina Forest District, just a couple of miles from Coastal Carolina University and Horry Georgetown Technical College. There are so many conveniences just a mile away such as Tanger Outlets, a variety of restaurants, Conway Medical Center, and just 8 miles to the sandy beaches of the Atlantic Ocean! Great house in a Great location!
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.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
