Welcome home to beautiful 119 Gail Dr. in the desirable community of Knollwood Heights in growing Mauldin, SC. As you approach the home sitting on nearly a half acre yard, you'll notice the charm and character highlighted by the spacious stone front porch. Upon entering, you'll find the expansive carpeted living room with wood burning stone fireplace. This connects to the dining room with wood parquet flooring and a lovely sun room overlooking the beautiful wooded backyard. Imagine sipping your morning coffee here as you watch the frequently visiting deer graze in the backyard. Continuing on, you'll find the kitchen with ample cabinet and counter space. The first floor also features a bedroom that could also make a great office space and a half bath with ceramic tile flooring. Heading upstairs, you'll find the large primary bedroom with space for a separate sitting area and walk-in closet. The ensuite bathroom includes a shower and double vanity. The primary bedroom also has its own access to the second story back deck that runs nearly the entire width of the home. The laundry room is also on the second floor for convenience and includes cabinets, a closet, and a built-in ironing board. Two additional bedrooms, both with two closets, and a second full bath complete the upstairs. If you need extra storage space, the 2 car garage provides ample space for vehicles as well as storage. Finally, head to the backyard and take in the peace and beauty of the wooded yard and tree coverage with the yard backing up to the community owned nature space complete with flowing creek. Located just minutes from restaurants, stores, and Main St Mauldin yet tucked away in the established community of Knollwood Heights, this home offers both privacy and convenience. Knollwood Heights has a voluntary HOA for maintaining some of the common spaces as well as a community pool with memberships available for owners to opt into if desired. Don't wait! Schedule your showing today and see all that 119 Gail Dr. has to offer!
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.
