Welcome to 119 Winding Rock Road, a well-maintained home in the desirable Southpointe Cottages community in Simpsonville. Tucked further into the neighborhood away from the main road, this home offers a quieter setting while still being convenient to everything off Georgia Road. Inside, the layout is both functional and comfortable with two bedrooms and two full bathrooms on the main level, along with an open living space that flows easily into the kitchen and dining area. The kitchen features quartz countertops, a large island, and plenty of cabinet space, making it a great setup for both everyday living and hosting. The primary suite offers a spacious bedroom, walk-in closet, and a well-appointed bathroom with double sinks and a walk-in shower. Upstairs, you’ll find two additional bedrooms along with a full bathroom. One of the standout features of this home is the fully enclosed patio that functions as a true sunroom. Complete with a gas log fireplace, this space can be enjoyed year-round and offers a comfortable place to relax, whether it’s a quiet morning with coffee or winding down in the evening. This home also features a tankless hot water heater as well as a smart water shut off valve that will automatically shut off the water if it senses any leaks! The Southpointe Cottages community is known for its low-maintenance living, with lawn care included, as well as walking trails and a strong sense of community among neighbors. Combined with its convenient location near shopping, dining, and everyday amenities, this home offers a great balance of comfort, simplicity, and lifestyle.
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.
