Open House Sunday 1:00-3:00 PM. Welcome to this spacious water front, open-concept ranch-style home located in the highly sought-after community of The Lakes in Myrtle Beach — just 4 miles from the beach! (Professional Photo's coming this weekend) This beautifully maintained 3-bedroom, 2-bath home offers comfortable coastal living with a bright, airy layout and thoughtful upgrades throughout. Step inside to find soaring 10-foot ceilings and an abundance of natural light in the family room and kitchen. The modern kitchen features granite countertops, stainless steel appliances including a gas range, 36-inch cabinets with crown molding, and a large counter perfect for cooking or entertaining. The primary suite offers a generous walk-in closet and a private ensuite bath with a beautifully tiled walk-in shower. The split-bedroom floor plan ensures privacy, with two additional bedrooms located at the front of the home. Enjoy year-round comfort in the large enclosed porch — insulated and equipped with its own heating and cooling system, owner leaves connecting windows open and allows the home’s HVAC to do the trick! Just off the kitchen, you’ll find an oversized laundry room with plenty of space for storage and direct access to the roomy two-car garage. Outside, the beautifully landscaped yard features a spacious deck, fenced backyard, and peaceful pond views — the perfect spot to relax or entertain. Note there is also a digital 21 channel antenna installed in the attic for your digital channel viewing! Experience the perfect combination of location, comfort, and style in this stunning home in The Lakes.
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.
