Nestled within the picturesque Codner's Ferry Park on Daniel Island, this custom home by Winsor South LLC is set on a desirable 0.33-acre corner lot, gracefully framed by a charming white picket fence that enhances its island appeal. A welcoming southern-style front porch, adorned with gas lanterns, invites you into a two-story open foyer, leading to a spacious formal dining room that has been elegantly repurposed as an additional living area, an ideal setting for gatherings and filled with natural light.As you proceed through the hall, you will discover a kitchen that seamlessly integrates with the living spaces, achieving a harmonious blend of functionality and elegance. The kitchen features painted shaker cabinetry, a pantry, stone countertops, a five-burner cooktop, as well as both wall and convection ovens. Adjacent to the kitchen is the mudroom, which connects with the two-car garage and includes a sink and storage, perfectly situated for organizing book or golf bags. The inviting family room offers a inviting fireplace surrounded by custom built-in cabinetry, complemented by doors that open onto a newly added expansive screened-in porch. This outdoor space is designed for relaxation and entertainment, featuring a dining area, a dry bar with stone countertops, double beverage centers, and cypress shiplap ceilings, all contributing to the tranquility of island living. The outdoor entertaining area includes ample seating, television, and a recessed spa, overlooking a generously sized backyard. The first-floor primary suite has been thoughtfully designed for spaciousness, showcasing a large walk-in closet and an ensuite bathroom complete with a double vanity, soaking tub, separate shower, and water closet. On the second floor, you will find four additional bedrooms and three full baths. The first two bedrooms share a Jack-and-Jill bathroom, while the fourth bedroom boasts a private bath with a tub. The fifth bedroom also features a private bath with a shower and a walk-in closet, located above the attached two-car garage, spacious enough to accommodate an additional seating area, home office, or gym. The bright second floor further benefits from three separate walk-in attic spaces, providing convenient access to storage. While enjoying the back screened-in porch, you will notice two outdoor fire pit locations: one on the patio behind the garage, ideal for entertaining, and another at the back corner of the property next to the wooden arbor entry, perfect for welcoming guests. This home, one of the largest lots in Codner's Ferry, has been lovingly enjoyed by its family over the years. Throughout the residence, exquisite features such as oak hardwood flooring on the first & second level and sophisticated trim and moulding are evident. Conveniently located just a block from Codner's Ferry Boat Launch, this home offers the opportunity to explore Beresford Creek through paddleboarding, kayaking, or boating, or to take a leisurely walk along the community paths that wind throughout the island. Notable features include a tankless water heater, newer HVAC units, a roof replaced in 2022, a new screened-in porch, new gutters, oak hardwood floors, a first-floor primary suite, an attached two-car garage, and an encapsulated crawlspace with a dehumidifier, along with 981 square feet of porch space and a S-acre corner lot adorned with mature plantings. Please reach out to learn more about this lovely custom home. Please note that the buyer is responsible for a one-time neighborhood enhancement fee of 0.25% of the sales price, payable to the Daniel Island Community Fund at closing.
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.
