This is a all-brick home, with a large private pool, on a gorgeous .54-acre lot with a stunning lake view in “The Lakes” community. The home has tremendous curb appeal and welcomes you in off the front covered porch. The split bedroom plan allows you privacy with the main bedroom on one side of the home and the other two bedrooms on the other side of the home. In the middle is you Livingroom, Eat-In Kitchen, Formal Dining room and Carolina Room. The Livingroom has a full working Fireplace and Tray Ceiling. Your Kitchen offers plenty of space, double oven work Island and a pantry. Enjoy your Carolina room overlooking the pool area and back yard. The home is in move in condition and can use some TLC and upgrades if wanted but has a lot to offer for the price. Few homes have this size lot with a large pool, this much privacy, fenced yard, lake view and All Brick home, especially this close to the ocean!!!. The HOA in the community are the lowest around. All measurements are approximate and not guaranteed; the buyer is responsible for verification. The home is near the heart of Myrtle Beach, close to shopping, dining, golf courses and everything the Grand Strand has to offer. Don't miss the opportunity to see this beautiful, All Brick, 3 bed, 3 bath, ½ acre with pool and lake view home. Schedule your showing today or contact the listing agent for any questions.
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.
