Welcome to 101 Burr Oak Street, a beautifully maintained home situated on a desirable corner lot in the Oakley Pointe community of Moncks Corner. Offering 3 bedrooms and 2.5 bathrooms, this property combines functional living spaces with thoughtful features that make it easy to feel right at home.Inside, you'll find warm and inviting living areas highlighted by rich acacia hardwood floors, known for their durability and distinctive natural grain. The spacious kitchen features Silestone countertops, a large island, and ample cabinet and counter space, and opens seamlessly to the main living area, creating an ideal setup for both everyday living and entertaining. Cathedral ceilings in the living area enhance the sense of space and openness.The first-floor primary suite provides a private and convenient retreat, complete with its own en suite bathroom and separation from the additional bedrooms for added privacy. Upstairs, two additional bedrooms share a full bathroom, offering a functional and well-separated layout from the main-level primary suite. Step outside to enjoy the fenced-in backyard, perfect for pets, play, or relaxing evenings. The screened porch extends your living space outdoors and features a hot tub that conveys with the home, creating the perfect spot to unwind year-round. The backyard also features fruit-producing trees, including a Florida peach tree and a highly productive Asian pear tree, adding a unique and enjoyable touch to the outdoor space. Additional features include a two-car garage, providing both parking and extra storage space. Located in Oakley Pointe, residents enjoy access to community amenities including a neighborhood pool, while being just minutes from shopping, dining, and everyday conveniences. Conveniently positioned near Highway 52, this location offers an easy commute to Goose Creek, North Charleston, and beyond. If you've been searching for a home that offers both comfort and convenience, this one is truly a hidden gem in Moncks Corner.
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.
