Incredible investment opportunity in Bridlewood Farms! Priced below market value, 2206 Pimlico Drive offers a rare chance to own a massive 5-bedroom, 3.5-bath home and customize it with your own design finishes while instantly building equity. This is not your average cookie-cutter house. This is a monster of a home with space for everything (and everyone).The primary bedroom is conveniently located on the first floor, featuring a spa-like en suite bath, walk-in closet, and room to truly unwind. Upstairs, you'll find spacious secondary bedrooms, generous storage areas, and access to additional attic storage... Because clutter happens, and this house is ready for it.Designed for both everyday living and entertaining, the home boasts a separate dining room, bonus office space, and alarge family room with vaulted ceilings and open sightlines straight from the kitchen. The kitchen is the heart of the home with a long breakfast bar, ample cabinetry, and abundant counter space, perfect for hosting, meal prep, or supervising chaos with style. Step outside to a screened porch overlooking a fully fenced .27-acre yard, ideal for pets, play, or peaceful evenings. Car enthusiasts and handy homeowners will love the extended driveway pad and three-car garage, offering easy access, flexibility, and serious storage options. Located in the desirable Bridlewood Farms community, residents enjoy amenities including a community pool, play park, and scenic ponds. The quaint town of Ridgeville offers small-town charm while keeping you close to everything, just minutes from I-26, Volvo, Downtown Summerville, Charleston, the Joint Base Charleston, and Lowcountry beaches. I dare you to outgrow this home. If you've been waiting for space, value, and opportunity ~THIS IS IT! Some images have been virtually enhanced/staged (exterior green grass & shrubs).
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.
