Beautifully maintained home situated on a premium .23-acre corner lot in the highly sought-after Park West subdivision.The functional eat-in kitchen features granite countertops, a center island, raised-panel 42'' maple cabinetry, stainless steel appliances, and a full pantry--offering ample storage and workspace. Open to the kitchen, the spacious family room boasts cathedral ceilings, a gas fireplace, and serene views of the backyard.Just off the kitchen is a formal dining room accented with crown molding, along with a versatile flex space perfect for a home office, study, or playroom. Upstairs, you'll find all bedrooms, bathrooms, and a conveniently located laundry room with high end washer/dryer in one. The spacious, updated primary suite showcases a dramatic tray ceiling, a large walk-in closet, and an ensuite bath with dual vanities, Carrara marble counters, a soaking tub, and a separate shower. Two additional guest bedrooms are generously sized with large closets, and the guest bathroom has also been recently updated. The expansive, fully fenced backyard is ideal for outdoor living and relaxation, featuring a beautiful stamped and colored $5,000 patio and mature trees that provide privacy and a tranquil setting. Additional highlights include hardwood floors throughout the first floor, a termite bond, a two-car garage, hot tub, washer and dryer, and basketball hoop, all conveying to the new owners. Pool table, outdoor furniture, and refrigerator are negotiable. The upstairs HVAC system was replaced approximately 4-5 years ago and efficiently cools 2,000 square feet. Park West offers exceptional neighborhood amenities, including a clubhouse, pools, playgrounds, tennis and volleyball courts, abundant green space, and miles of walking and jogging trails. These connect to award-winning schools, restaurants, shops, grocery stores, an athletic club, and a premier recreational park with expansive sports facilities. Conveniently located near hospitals, beaches, golf, boating, the airport, and downtown Charleston. This home is a must-see, schedule your showing and make an offer today!
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.
