COMMUTER’S DREAM WITH ACREAGE & PRIVACY – RECENT PRICE IMPROVEMENT! Located in South Carolina right at the North Carolina state line and the Lancaster County line, this property offers the perfect balance of peaceful country living with quick access to Monroe, Lancaster, Charlotte, and Pageland—ideal for commuters who want space without sacrificing convenience. Positioned along a desirable stretch of road with beautiful newer homes nearby, this is the last home past the new construction, offering added seclusion. The seller also owns the land to the left of the home (when facing it), creating a natural privacy buffer, while the property across the street is open farmland—giving you the quiet rural setting buyers are searching for. The home features 3 bedrooms, 2.5 bathrooms, plus a spacious FROG with a massive walk-in closet, perfect for a home office, guest suite, or flex space. Major updates include a new roof (2020) and an HVAC system only 5 years old, and all appliances—including washer and dryer—convey. In addition to the attached two-car garage, the property includes a 24x32 detached garage/workshop that is already framed for an in-law suite with flooring installed, ready for your finishing touches—ideal for multigenerational living or future income potential. You’ll also find a 12x16 storage building, an above-ground pool with a new deck, pump, and ionizer, and a covered back patio perfect for entertaining. The land offers approximately 4 cleared acres with the remaining acreage in pines and hardwoods, along with a shooting range and a cleared space for hunting or outdoor recreation—making this a rare find for buyers seeking acreage, privacy, and flexibility. Move-in ready with major systems updated; cosmetic finishes offer an opportunity to customize and create value. Seller is offering a $5,000 allowance with an acceptable offer for any cosmetic updates you desire. Recently reduced and competitively priced for the location, land, and features—this is a standout opportunity for commuters and acreage buyers alike.
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.
