Positioned on1.13-acres, this exceptional Lake Murray residence combines three lots into one expansive waterfront retreat, boasting an impressive 275 feet of shoreline and sweeping big water views from a protected cove setting, making it a rare find in Timberlake Estates designed for both everyday living and effortless entertaining, the home spans three levels and features soaring 17-foot ceilings in the great room and living room, creating a dramatic yet inviting atmosphere filled with natural light. The main level showcases an open floor plan with the kitchen and great room seamlessly combined, offering a spacious and connected living environment ideal for gathering and entertaining. The main level primary suite adds convenience and privacy, while multiple living areas provide flexibility for guests and gatherings alike. The basement kitchen is thoughtfully appointed with a full suite of appliances, including a prep sink, ice maker, and mini refrigerator, ideal for hosting. A wine cellar adds a refined touch, perfect for collectors and entertainers. What truly sets this property apart is its unmatched waterfront lifestyle. As the only home in Timberlake Estates offering two private docks, both with power, paired with two lakeside porches, the outdoor experience is second to none, whether enjoying quiet mornings on the water or sunrise views across the lake. Additional highlights include two laundry rooms, a secondary exterior entrance to the lower level, new windows, and a newly installed roof (2025), offering both functionality and peace of mind. Residents of Timberlake Estates enjoy a lifestyle unlike any other, as Timberlake Country Club stands as Lake Murray’s only golf course community, offering an 18-hole course, on-site restaurant, pro shop, pool, tennis, and pickleball courts. A rare opportunity to own a truly distinctive property in one of Chapin’s most desirable lakefront communities, where space, privacy, and premier waterfront living converge. Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.
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.
