Character • No HOA• Beautiful Lot If outdoor living is on your wish list - check out this charming home. With NO HOA, this full-brick 3/2 home blends the character of a cottage home with modern updates. Step outside to what sets this property apart. The private, tree-lined backyard backs onto an undeveloped wooded area, creating a retreat where you can relax and enjoy nature year-round. The large Multi-Tiered Deck is perfect for entertaining. The upper deck was constructed with 6x6's for additional support should you decide to screen or have it enclosed, while the Fire Pit area is ideal for cozy nights under the stars. The Storage Shed remains, and RV owners will appreciate the Dedicated Full RV hookup. Inside, you'll find refinished original wood floors throughout the home, with tile in the kitchen and baths. In the living room, enjoy the stone-surround fireplace with wood mantle, complete with gas logs. You'll love the light-filled, updated kitchen that overlooks the backyard. Quartz counters, Frigidaire stainless appliances, gas cooktop/range, recessed lighting, under-counter lighting, and the Refrigerator stays! The flex room off the kitchen is used as a breakfast nook, but you decide what works best for you - office, playroom, drop zone, etc. The primary bedroom with an ensuite bath has a separate tub and dressing area, shower, and double vanities. Enjoy the best of both worlds - quiet country living with the convenience of shopping, dining, medical facilities, Fort Mill schools, parks, golf courses, Main Street, Lake Wylie, and major commuter routes close by.
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.
