***Ask about the possibility of receiving 1% reduction in interest rate and free refi.*** This spacious and beautifully maintained home in the desirable Plum Creek community of Summerville is an absolute must see. From the inviting front porch to the impressive curb appeal, this home welcomes you from the moment you arrive.Step inside to discover an open and airy floor plan enhanced by attractive flooring, abundant natural light, and a stunning two story foyer with a graceful staircase leading to the second level. To the right of the entry, the formal living and dining room provides an elegant space for entertaining family and friends.The heart of the home features a bright and inviting kitchen with white cabinetry, a stylish backsplash, stainless steel appliances, and a seamless flow into the eat in area and family room. The family room offers a cozy fireplace and peaceful views of the backyard, creating the perfect gathering space. From the eat in area, step out to the screened porch and enjoy the beautifully landscaped, fenced backyard complete with a paver patio, mature trees, and lush greenery. A convenient powder room completes the main level. Upstairs, the spacious primary suite features a tray ceiling and a luxurious ensuite bath with a dual sink vanity, soaking tub, frameless walk in shower, and walk in closet. Three additional bedrooms, a beautifully appointed full bathroom with a frameless step in shower, and a laundry room complete the second floor. Residents of Plum Creek enjoy access to a community swimming pool and play park. The location is hard to beat, situated less than 5 miles from historic downtown Summerville and I-26, and under 9 miles from Nexton Square, offering access to shopping, dining, and entertainment. This exceptional home combines comfort, style, and convenience in one outstanding package. Schedule your showing today. *Some images have been virtually enhanced.
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.
