Knock it out of the park with this freshly updated traditional 4BR, 2.5BA plus bonus room and sun room home that is beautifully situated on nearly an acre of land in much desired Woodfield Plantation in Powdersville with a spacious private back yard and a newly renovated inground pool. This home is where memories are waiting to be made with the welcoming wide front porch; the huge great room with fireplace and luxury vinyl plank flooring; stunning kitchen remodel which includes white quartz counter tops, deluxe range with glass cook top, convection over plus air fryer, custom two tone cabinetry with glass paned upper cabs, honey bronze hardware, elegant tile back splash, and stainless appliances. Upstairs there are 3 bedrooms, including an ample sized primary suite with an exquisite tile shower, custom cabinetry and finishings. Enjoy the spacious bonus room with an additional private staircase down to the laundry room off of the kitchen. The 4th bedroom, which can also be used as a home office, is on the main level for convenience. Enjoy mornings or evenings in the lovely sun room with ceramic tile overlooking the pool and the wonderful backyard with white vinyl privacy fence. Large deck off the back of the home and there is a 28x14 detached workshop equipped with 220 power at the back of the property. Driveway has yards of extra concrete for parking multiple vehicles! Unique option to attend Powdersville schools or Pickens schools if desired. Both Pickens & Powdersville schools pick up students in Woodfield Plantation.This is a home run hit for location, living space, large private yard and your own luxurious inground pool just in time for summer!
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.
