Welcome to 202 Lynx, located in one of Summerville's most sought-after communities, The Ponds.This beautifully maintained 5-bedroom, 4-bathroom home offers almost 3,400 square feet of upgraded living space and is truly move-in ready. Situated on a private corner lot and just a short walk to the community amenity center, this home checks all the boxes.Step inside to find newly replaced luxury vinyy plank flooring flowing throughout the main living areas, complemented by 9-foot ceilings, upgraded trim, and crown molding. Just off the foyer is a highly desirable main-level guest suite with a full bathroom--perfect for visitors or easily used as a private home office.As you move through the home, you'll pass a formal dining room before entering the open-concept main living space.The kitchen is a standout feature, offering granite countertops, ample cabinet space, a large island with seating, a natural gas range with stainless steel hood, and built-in wall oven and microwave. Just off the kitchen, you'll find a breakfast nook with custom built-in bench seating, along with a spacious walk-in pantry featuring custom shelving and wallpaper accents. The living room is designed for both everyday living and entertaining, centered around a stacked stone gas fireplace and filled with natural light and offers ceiling speakers. Seamlessly connected to the kitchen and dining areas, this space allows you to stay engaged with guests whether you're hosting, cooking, or just relaxing--creating a true heart-of-the-home feel with plenty of room to gather. Upstairs, a versatile loft with provides the perfect secondary living area, playroom, or media space. The expansive primary suite features a well-appointed en suite bathroom with dual vanities, a tiled walk-in shower, and multiple closets providing ample storage and organization. Three additional bedrooms, a dedicated laundry room and two full bathrooms complete the second floor with all bedrooms in the home featuring newly installed carpet. Set on a .16-acre corner lot, this fully fenced yard the property backs up to an easement, providing added privacy and extra space between neighbors and also offers full yard irrigation for extra convenience! Life at The Ponds offers a thoughtfully designed community centered around natural beauty and everyday convenience. Enjoy a resort-style pool, clubhouse, dog park, amphitheater, and miles of scenic walking and biking trails that wind through preserved green space and around picturesque ponds. The neighborhood is known for its active lifestyle, with regular food trucks, community events, and seasonal gatherings. With easy access to the Summerville YMCA and a setting that blends nature with modern amenities, The Ponds provides a well-balanced and highly desirable living experience.
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.
