Welcome to this spacious 4-bedroom, 2-bath home on a large quarter-acre lot in the desirable Pierpont neighborhood of West Ashley. Built in 1980 and thoughtfully updated, this property offers a blend of comfort, convenience, and incredible potential, ready for you to add finishing touches and make it their own.Step inside a bright, open living area featuring new LVP flooring and abundant natural light. The functional galley kitchen offers granite countertops, a stylish backsplash, and stainless steel smart appliances including aconvection/air-fryer oven. The downstairs layout includes two spacious bedrooms with large windows and a full bath. Upstairs, you'll find two additional large bedrooms with closet systems by Closets by Design and a second full bathroom. Major system updates provide peace of mind: New HVAC (2023), crawlspace encapsulation (2023) with monitoring system and transferable 25-year warranty, New roof (2018) under warranty, new gutters (2022), and plantation shutters throughout. Additional features include a 1-car attached garage with interior and backyard access, ample attic storage. The backyard has a patio area, fenced in section, plus room to expand or landscape on the generous lot. Located just 20 minutes to downtown Charleston and 30 minutes to Folly Beach, with quick access to shopping, dining, and daily conveniences. Pierpont is also golf-cart friendly, adding to the relaxed lifestyle this neighborhood offers. With solid updates already completed this home presents an excellent opportunity to build equity and create your dream space. Come take a look today this is a fantastic value you won't want to miss.
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.
