Welcome to this beautifully updated Southern coastal home, perfectly positioned just minutes from Folly Beach and moments from the Sol Legare boat landing. Surrounded by mature live oaks and lush landscaping, this elevated residence blends Lowcountry charm with thoughtful modern upgrades making it an ideal place to relax and entertain.Step inside to an inviting open-concept main level, where the bright and airy chef's kitchen flows effortlessly into the dining and living areas. The kitchen features white cabinetry, stainless steel appliances, a large center island with seating, and stylish designer lighting. An elegant arched entryway enhances the space, while double sets of French doors extend the living area onto the front porch--perfect for relaxing with coastal breezes.Upstairs, a custom built-in bar with granite countertops offers the ideal spot to unwind with serene, distant marsh views. The home features 3 spacious bedrooms and 2.5 bathrooms, with new luxury vinyl plank flooring and updated lighting and ceiling fans throughout the upper level. A thoughtfully designed mudroom with custom cabinetry keeps everyday life organized, while the garage includes an EV charging station and a powerful 50-amp, a whole-home generator for peace of mind. Outdoor living is a standout feature of this home. Step into a spacious backyard where a warm outdoor fireplace sets the stage for memorable gatherings, while an outdoor shower brings a touch of beach-house ease. Mature fruit treesfig, pear, and peachdot the landscape, offering beauty and bounty throughout the seasons. Surrounded by lush, established plantings, the space feels like your own private sanctuary, perfect for unwinding from morning to night. Additional highlights include a brand-new HVAC system, new attic egress with pull-down stairs, and the charm and comfort that define true Southern life. Some furniture is negotiable with the sale. This is a rare opportunity to own a beautifully maintained and upgraded home in one of Charleston's most beloved coastal corridorsclose to the beach, the marsh, and the best of Lowcountry living.
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.
