***VIEW*** ***2.25% VA Assumable Loan*** South-end Daniel Island home retreat. Enjoy unobstructed beautiful views from both floors of the Ravenel Bridge, marsh, and riverfront. 2.25% VA assumable mortgage (~$1.35M remaining). Coastal Charleston-single-style 4BR/4BA/office/2.5-car garage in popular DI Smythe Park neighborhood. Meticulously kept. Premium upgrades, open floor plan, 3-stop elevator, white oak hardwoods, and custom trim. Crown molding throughout, designer finishes, 8' custom front door. Double-front and double-rear porches. Spectacular natural light. Marsh views may include encounters with deer, rabbits, and falcons. Walk to 24-acre Smythe Park, Pierce Pool/Pavilion, and Edgewater Pool. Ride cart to nearby amenities. Near Credit One Stadium and Publix grocery store.Easy access to DI amenities: running/bike trails, private schools, library, golf course, public boat dock, Town Center restaurants and shops, tennis/pickleball courts and more! Main level has a bright office room with sliding glass doors, a flex room (formal living or guest suite) with full bath, expansive and open living/dining area and a gourmet kitchen with new KitchenAid appliances, abundant cabinet spaces, quartz countertops, oversized island (with eat-in), farm sink, gas cook top, high-capacity hood, walk-in pantry, and under-cabinet lighting. Relax in inviting and spacious family room with 10' coffered ceilings, a gas fireplace, built-in cabinets, which opens to a screened porch with a direct view to the river and Ravenel Bridge. Dining room connects to kitchen and family room, and french doors which also open to screen porch. Plantation shutters throughout and electric roller shades; premier sound system in family room also controls sound system on porch. Stairs lead to upper level, where owners' suite has appx. +14 foot vaulted ceiling, large walk-in closet, blackout shades, separate exquisite frameless glass shower and tub with upgraded features, expansive bathroom with dual vanities and linen storage, private porch with shades, plus two additional bedrooms with their own private bathrooms. Upgraded laundry room with detailed tile, built-in cabinets, and faucet/sink. Front bedroom has quick access to front covered porch, with expansive views of northern Daniel Island. Front and rear porches on both main and upper levels. 2.5-car garage with extended length has room for 2 oversized cars AND room for golf cart with separate garage door, professionally-finished floor treatment, and dehumidifier. Garage rescreened and professionally-installed plastic coverings allow year-round use of garage and moisture minimization. Garage includes game room area, door access to loggia deck under main level porch with gas plumbed for grill or pizza oven, and multiple access areas under decks and stairs for storage. The garage has bounds of space for all your toys and tools, along with storage under the stairs for decorations. Walk outside to see the upgraded renewed landscaping with sprinkler system and new backflow, new metal fence in backyard, and automatic outside lighting. Home has been meticulously cleaned with regular 1/3/6/12 month maintenance protocols. Porch decks, railings, and awnings repainted/refinished in November, with stairs and front porch finished with D3 weather treatment. Refrigerator conveys and has swappable blue and gray panels, to compliment different color palettes. Ceiling fans cool every room, and LED can-lighting is throughout with cozy nightlight feature. *Buyer pays a one-time neighborhood enhancement fee of .5% x sales price to Daniel Island Community Fund at closing and an estoppel fee to the Daniel Island Property Owners Association, Inc. Property Disclosure and Community Fund Disclosure are attached. Daniel Island resale addendum is also attached and will be required on offer to purchase. *Buyer to confirm any information in this listing that is important in the purchase decision. Buyer to confirm condition, features, square footage, lot size, taxes, and schools.
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.
