If you've been searching for a home with great bones, an incredible lot, and the opportunity to build instant equity, this is the one! Nestled at the end of a quiet cul-de-sac in one of Moncks Corner's established neighborhoods, this charming 4-bedroom, 2-bath home offers the freedom of no HOA and endless potential to make it your own.A welcoming full front porch invites you to slow down and enjoy your morning coffee or relax in a favorite rocking chair while greeting neighbors and guests. Inside, you'll find over 1,700 square feet of comfortable living space featuring beautiful hardwood floors in the living room, a cozy fireplace, and an open dining area with soaring ceilings that fills the home with natural light while overlooking the backyard.The kitchen has been thoughtfully updated during the current owner's ownership, providing a great blend of modern convenience and everyday functionality. The first-floor owner's suite offers privacy and convenience, while upstairs you'll find three additional spacious bedrooms, a full bath, and a versatile finished room over the garage that's perfect for a playroom, home office, media room, or guest space. Step outside and imagine the possibilities. The large, fully fenced backyard is highlighted by an inground saltwater pool that simply needs a little TLC to become the centerpiece of unforgettable summers spent with family and friends. Whether you're hosting cookouts, watching the kids play, or relaxing poolside, this backyard is ready to become your private retreat. A one-car garage provides additional storage, and with no HOA, you'll enjoy the flexibility to truly make the property your own. Conveniently located just minutes from downtown Moncks Corner, you'll have easy access to local shopping, restaurants, schools, churches, and beautiful Lake Moultrie. Commuting is simple with nearby Highway 52 to Charleston and Highway 17A toward Summerville. Priced to reflect the need for cosmetic updates and fresh paint, this home presents an outstanding opportunity for buyers looking to add their personal touch while gaining valuable sweat equity. Opportunities like this don't come along often!
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.
