Welcome to this beautifully maintained home located at 125 Black Bear Rd, offering comfort, efficiency, and convenience in the heart of the Grand Strand. Perfectly positioned in the desirable Socastee area, this home is just minutes from local schools, shopping, dining, and everyday conveniences. Enjoy being centrally located with easy access to both Myrtle Beach and the waterfront charm of Murrells Inlet, making beaches, entertainment, and restaurants just a short drive away. This home features numerous recent upgrades designed for both comfort and long-term savings. A new roof and new gutters with screens provide peace of mind, while the heat pump, installed just a few years ago, ensures efficient climate control. The system is further enhanced by a soft-start controller, which reduces voltage during startup to help extend the life of the unit. Energy efficiency is also boosted by solar panels, significantly reducing electric costs and offering a transferable 25-year warranty for added value. Inside, you'll find new LED kitchen lighting with remote control, a new sink and garbage disposal, and programmable thermostats to maximize comfort and savings. A mechanical timer on the water heater helps reduce energy usage during peak hours (3 PM - 6 PM in summer and 6 AM - 9 AM in winter), adding another layer of efficiency. Additional thoughtful updates include senior-height toilets, all-new smoke detectors less than one year old, and a new water heater for improved efficiency. The home is also equipped with a whole-house surge protector installed at the electrical panel, offering added protection for your appliances and systems. Storage is made easy with an electric lift to the garage attic, along with four detached storage buildings: two large (8'x7') and two smaller (3'x5'), providing plenty of space for tools, equipment, or hobby use. The property also includes a full propane tank and a fenced backyard, perfect for pets, outdoor gatherings, or relaxing in your private outdoor space. Located in a well-established area known for its convenience and accessibility, this property offers the ideal combination of modern updates, energy efficiency, and a central location within the Grand Strand. Whether commuting to Myrtle Beach, heading south to Murrells Inlet, or staying close to the highly regarded Socastee community amenities, this home delivers both value 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.
