Welcome to 103 Clamdigger Loop, a truly rare opportunity in the charming Clam Bake Cove community of Pawleys Island. This is the first time a three-story floor plan has ever been offered for sale in the neighborhood, making this home as unique as it is thoughtfully designed. This 3-bedroom, 3-bathroom home blends modern coastal style with functional living across three spacious levels. The main living level features an open-concept layout designed for both everyday living and entertaining. The living room is anchored by a stylish shiplap feature wall with a built-in electric fireplace, creating a warm and inviting focal point. The kitchen is beautifully upgraded with marble countertops and backsplash, a pantry for added storage, and a high-end appliance package including a gas range with double convection ovens (with air fry capability), Bosch dishwasher, built-in microwave, and a GE Café refrigerator with built-in Keurig. A spacious countertop with bar seating provides the perfect spot for casual dining or gathering with guests. The adjacent dining area is highlighted by a gorgeous coastal-inspired light fixture, adding warmth and character to the space while tying together the home’s relaxed coastal aesthetic. Plantation shutters and durable vinyl plank flooring run throughout, adding both charm and ease of maintenance. Also on the main level is a flexible bedroom currently used as a home office and media room, complete with a walk-in closet and access to a full hall bathroom featuring a tiled shower. Step outside to enjoy the front porch - perfect for relaxing and soaking in the Lowcountry breeze. Upstairs, the top floor retreat includes the spacious primary suite with a custom-tiled shower, double sink vanity, and a large walk-in closet with custom organization. The bedroom also features its own electric fireplace for added comfort and ambiance. A guest bedroom with a private ensuite bathroom and walk-in closet completes this level. The ground level offers exceptional versatility with a two-car garage, laundry room, and ample storage with two large closets. From here, access the screened-in porch and covered patio, creating an ideal indoor-outdoor living experience. Just off the porch, you’ll find a heated and cooled bonus space currently used as a bar area, complete with a sink, wine fridge, and full refrigerator, perfect for entertaining or easily adaptable to suit your needs. The exterior showcases a striking contemporary coastal design with Hardie plank siding, a metal roof, cable rail detailing, frosted glass garage doors, and a paver driveway and walkway. An outdoor shower adds the perfect finishing touch for beachside living. Clam Bake Cove is an intimate community of just 33 homes, ideally located with sidewalks leading to everyday conveniences like grocery stores, coffee shops, and local favorites. And best of all - you’re just a quick golf cart ride to the beach.
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.
