Charleston Charm defines this 4-bedroom, 3.5-bath residence by Crescent Homes. It pairs an open and functional layout with the first floor with the primary suite down, a large loft and 3 more bedrooms upstairs, there is a dedicated office/flex space downstairs, all with the yard and distance between neighbors that is SO hard to find. The neighborhood HOA owns the land beside the home giving you an incredible approx 32' W of open land that the community manages but creates a buffer between the lots. You will find this property nestled within the planned community of White Gables where neighbors know each other by name and sidewalk strolling is common.Whether you're gathering around the large kitchen island or lounging on the double front porches, the open flow to the screened-in porch creates the ultimate space for hosting family and friends. Interior features include granite countertops, upgraded shaker style cabinetry, a separate dining room, ship lap accents and wainscoting, laminate hardwood floors, a gas fireplace, ceiling fans throughout, recessed lights, wood threads up the stairs, neutral paint throughout. The upstairs loft serves as a flexible secondary living space or playroom, and storage is abundant with walk-in closets in most bedrooms and a dedicated utility closet in the laundry room. The property sits approximately 0.8 miles from the White Gables community clubhouse and pool. White Gables is known to be an active golf cart community with a social atmosphere, hosting neighborhood events like Easter egg hunts and holiday decorating. The current owner states " We have loved being in our house and the neighborhood for the last 7 years. If we weren't relocating for work, we'd never leave!." Amenities include a clubhouse, multiple pools, tennis and basketball courts, walking trails, and fishing ponds. Zoned for the Dorchester II School District and only 3.5 miles from downtown Summerville. Energy features include a gas furnace and R-15 wall insulation. High-efficiency components include a 14 SEER HVAC, tankless gas water heater, Low-E windows, and a radiant attic barrier. Exterior features include a 412-square-foot detached garage and a landscaped yard.
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.
