Welcome to this beautifully renovated home in the desirable Hillsborough community! Offering an inviting open layout and an impressive list of upgrades, this home has been thoughtfully improved from top to bottom. Fresh new paint throughout, updated lighting and ceiling fans, and waterproof LVP flooring provide a modern and seamless feel. The kitchen shines with upgraded cabinetry, solid surface countertops, stainless steel appliances (including a 36" convection oven and two 33" refrigerators!), a new range hood, and expanded pantry/storage — perfect for cooking and entertaining. The living room features a refreshed fireplace and mantel and flows into the newly enclosed Carolina Room — now heated and cooled with new glass and screen doors for year-round enjoyment. Both bathrooms have been beautifully upgraded with granite countertops, updated vanities and mirrors, and the primary suite offers a walk-in tile shower plus a custom walk-in closet with built-in shelving. The improvements continue outside with a painted driveway, curbscaping, widened concrete patio extensions (front and rear), rubber mulch landscaping, new outdoor light fixtures, front patio awning, and keyless entry locks. Additional features include stairs to attic storage above the garage with shelving, new blinds throughout, and a garage workbench and cabinets. Best of all — a brand-new roof was installed in 2025 for added peace of mind! Hillsborough is a highly sought-after community featuring a pool, playground, bocce ball courts, pickleball courts, basketball area, sidewalks, and fun neighborhood events — all just minutes from shopping, dining, golf, and the beautiful beaches of the Grand Strand. This home is truly move-in ready and loaded with upgrades. Come see why 1427 Half Penny Loop should be your next address!
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.
