Gorgeous 5 bedroom, 4.5 bathroom home on a cul-de-sac with private backyard overlooking lush evergreen woods and a pond in the Riverside section of Carolina Park. This home has been expertly designed with high-end custom finishes. Double front porches running the full width of the house, with haint blue wood-plank ceilings and multiple ceiling fans, set the tone for this quintessentially Lowcountry home. Enter through the foyer and note the wainscoting that runs from the foyer up the stairs and down the full length of the hallway leading to the back door. Crown molding, hardwood floors, and designer light fixtures also appear throughout the first floor of the home. To the right of the foyer is the family room, which is separated from the dining room by a 2-sided gas fireplace with bricktile surround and stone-topped hearth. The dining room is open to the kitchen, which features stainless steel appliances (including a 6-burner gas range), custom Shaker-style white cabinets, quartz countertops, white tile backsplash, island, and an eat-in area with a 3-sided bank of windows fitted with custom fabric shades. A glass door leads from the kitchen to the screened porch overlooking the beautiful backyard, saltwater pool and spa with Travertine surround, and the pond and woods beyond. The large primary suite is on the main level of the home. The bedroom has board and batten walls and double walk-in closets. The primary bath features a double-sink vanity; free-standing tub; and separate shower with double shower heads, bench seat, tile floor and surround, and frameless glass. On the second floor are a bedroom with en suite bath and two bedrooms with Jack and Jill bath. The third floor can be used as a fifth bedroom with its own bath and a separate sitting area or office. Outstanding amenities include community tennis and pickleball courts, dog park, pool, pavilion, community dock, and more!
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.
