**5.25% VA ASSUMABLE LOAN** Welcome to 277 Overcup Loop, an impeccably upgraded 5-bedroom, 2.5-bathroom residence located in the highly sought-after Lindera Preserve at Cane Bay, where elevated design meets everyday functionality. From the moment you arrive, you're greeted by beautiful landscaping, a welcoming front porch, and a two-car garage. Upon entering the home, a bright and inviting foyer sets the tone for the thoughtful layout. Just off the entry, you'll find a private flex space with French doors, perfect for a home office, playroom, or additional sitting area. Across from the office is a spacious formal dining room, ideal for hosting holiday gatherings, dinner parties, or everyday meals. As you continue through the home, the space opens seamlessly into a stunning,light-filled living area designed for both comfortable everyday living and effortless entertaining. At the heart of the home is a beautifully appointed kitchen showcasing crisp cream-colored cabinetry, granite countertops, a timeless tile backsplash, stainless steel appliances, an oversized center island, and a double wall oven. A butler's pantry connects the kitchen and dining room, providing additional counter space, cabinet storage, and the perfect setup for hosting and entertaining. The adjacent eat-in dining area offers even more room for casual meals and gatherings. The main living space is filled with natural light and anchored by a cozy fireplace, creating the perfect place to unwind at the end of the day. Step outside to enjoy the screened porch, complete with a ceiling fan for year-round comfort, as well as an extended patio and covered pergola overlooking a tranquil pond. This outdoor retreat creates a picturesque setting for relaxing evenings, weekend cookouts, and true Lowcountry living at its finest. Upstairs, you're welcomed by a spacious loft that currently serves as the home's fifth bedroom, offering incredible flexibility as a guest suite, media room, playroom, or secondary living space. The primary suite is a true sanctuary, featuring a spa-inspired en suite bathroom with a double vanity, tiled walk-in glass shower, soaking tub, and a walk-in closet. The upstairs laundry room is thoughtfully designed with built-in shelving, providing additional storage and organization for everyday living. Down the hall, three additional well-appointed bedrooms and a full guest bathroom provide comfort and flexibility for family and guests alike. Located within the vibrant Lindera Preserve community, residents enjoy access to exceptional amenities including scenic walking trails, two resort-style pools, a dog park, playgrounds, and miles of wooded paths. Conveniently situated near the Cane Bay Family YMCA, Publix, dining, shopping, and Cane Bay schools, this home offers luxury, comfort, and convenience in one of the area's most desirable communities.
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.
