Back on Market - buyers got cold feet! ATTN: Boys with Toys! Brick 1 story! Nearly 1/2 acre lot! Attached 2 car garage + detached 2 car garage! No HOA! This home combines comfort, space, & custom details throughout with crown molding, chair rail trim, quality wood cabinets, 3 bay windows, wood & tile flooring & so much more. Family room offers vaulted ceiling & gas fireplace, well-designed kitchen features SS appliances & granite countertops. Two dining areas! Rear sunroom overlooks open patio for great outdoor living space. Car enthusiasts, hobbyists, & handymen are sure to delight in the attached 2 car garage, detached 21'x20' garage & separate 8'x12' storage building. Deep double driveway is ideal for parking multiple vehicles- Bring your boat or RV! Minutes to Summerville town square.This is a rare-find! Quality built brick one story on large lot with no HOA! Bike or golf cart to downtown Summerville for shopping, dining, theater, farmer's market and Third Thursdays. Well-designed kitchen features ceramic tile flooring, smooth ceilings, pendent lights, custom wood cabinets with crown molding and large cabinet pantry. Stainless steel appliances include smooth top range, built-in microwave, dishwasher and French door style refrigerator. Granite countertops are accented with undermount sink and tile backsplash. Warm wood floors flow throughout the family room, dining area and all 3 bedrooms. Vaulted ceiling, decorator plant shelving & built-ins flanking the right of the gas fireplace highlight the family room. Rear sunroom is climate controlled to extend your living space and is the ideal spot to relax and unwind! Complete with French doors, private door to primary owner suite and rear access to open patio and backyard. Attached 2 car side entry garage features built-in shelving, epoxy floor with freshly painted sheetrock walls, automatic door opener & extra paved parking pad. Extended double driveway leads to detached 20'x21' garage with roll up door and side walk through door. Paved walkway leads to front porch and connects detached garage to rear patio. 8'x12' storage shed is located at the back of the detached garage for additional storage options. Bring your boat or RV! A great work-from-home opportunity with 3rd bedroom that can be home office featuring built-ins in closet space with separate built in desk area and 2 sets of bookshelves. Can easily convert the closet back if buyer chooses! Smoke free, pet free. This home is a must-see!
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.
