Make sure to watch the virtual tour! Set on the creek with your own dock out over the water, the charm is truly undeniable. In every space you feel the perfect combination of luxury and history. The interior is stunning, the outside is a dream! Multigenerational living is easily accommodated with a full living area downstairs including a kitchenette, and the primary living space upstairs. Right when you walk in you see the southern lowcountry landscape past the living room and through new sliders, and the view continues throughout the home. The landscape is lush with added backyard lighting for when the sun is set. The dock was built for relaxation. Boards lift out of the joists and a ladder can be attached to hooks to ease your kayak into the water. Over 1,000 square feet of deck space allows for indoor-outdoor living. Everything has a high end designer finish with a relaxed coastal vibe and beautiful finishing touches. Inside, the downstairs has two rooms that easily fit king sized beds and a bathroom with a walk in shower. Tall windows enhance the natural light through the bedrooms, living room, and kitchenette. The stairs up to the main living area are still the original beams and there's a charming little library at the top. The door can close to separate the upstairs from down. Beadboard walls keep the coastal charm coming through the home. There’s plenty of counter space in the kitchen that are maplewood topped, plenty of storage and plenty of room to move. The breakfast table overlooks the winding creek where you'll see the wildlife that passes by. You can step out to the back deck from here for easy outdoor dining. The formal dining room has custom shelves for easy serving access. A large butlers pantry is across the hall for extra storage, and can be converted to fit a twin bed for another bedroom. The primary suite is a whole wing of the home with a view to the east, access to the deck, soaring ceilings and a walk-in closet. Another bedroom is at the other end of the hall, both are beautifully decorated. The new floors are elegant, the crown molding is classic, There are so many built-ins for the house to hold your family heirlooms, photos, books and souvenirs. The home has had a full renovation starting from the last 5 years going up to the last 5 days. Short term renting is allowed. It's perfect, refreshing, and ready for you!
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.
