Priced $80,000 below a recent appraisal, this 3-bedroom, 2-bath brick ranch offers a rare opportunity in a prime location with top-rated schools. Sitting on just over an acre in a well-established, no-HOA neighborhood—minutes from I-385 and Downtown Simpsonville—this property is ideal for anyone looking to put their own stamp on a home and build instant equity. If you’ve been searching for a place where thoughtful updates can truly elevate the value, this is the one. The solid construction and generous layout provide an excellent foundation for renovation, whether you’re an investor, a first-time buyer with a vision, or someone who simply appreciates the chance to customize a home to fit their needs. Enjoy the freedom of a large, private lot—raise chickens or bees, plant a garden, or create the outdoor living space you’ve always wanted—all while staying close to shopping, dining, and everyday conveniences. Inside, the home features great bones and spacious rooms throughout. The large eat-in kitchen with granite countertops is perfect for gathering with friends and family. Two sizable living areas offer flexibility for relaxation or entertaining. All bedrooms are nicely sized, including one with a Murphy bed—ideal for a dual-purpose den/guest room. The two full baths were remodeled in 2012 and feature a large tiled shower in one and a soaking tub in the other. Downstairs, a finished room with a private entrance and fireplace offers excellent potential for a guest suite, in-law setup, or home office. You’ll also find 715 square feet of heated and cooled unfinished space—perfect for a workshop, hobby space, or abundant climate-controlled storage. With some well-chosen updates and TLC, this home has the potential to shine beautifully and offer long-term value for years to come. Recent improvements include a brand-new HVAC system (2025) and a water heater under three years old. This property is being sold AS IS and will qualify for cash or conventional financing only. Homes with this much potential, on over an acre, in such a desirable location, don’t come along often—schedule your showing 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.
