Located in one of Charleston's most desirable neighborhoods, just one block from the Ashley River, this thoughtfully renovated home offers a balance of comfort and refined design. Set on a large, flat lot, the three-bedroom property has undergone an extensive update and is move-in ready.Inside, an open floor plan creates a sense of space and flow, anchored by a fireplace with distinctive design details. The living room features a cathedral ceiling with exposed wooden beams, adding architectural interest without overwhelming the space. A formal dining area sits just off the kitchen, providing a natural setting for both everyday meals and special occasions. The home includes a fully updated kitchen, along with renovated bathrooms, and new fixtures and lighting throughout.The kitchen is designed with both function and style in mind, offering wood cabinetry, stainless steel appliances, a center island, and ample storage and workspace. Additional features include a two-car garage with updated flooring and French doors off the kitchen that open to a large screened porch. This space combines covered and open-air areas, allowing for both shade and sunlight, and is equipped with ceiling fans for added comfort. The backyard is landscaped with mature greenery and enclosed by a six-foot privacy fence. The primary bedroom includes a newly renovated bathroom with a spacious shower and built-in bench. Two additional bedrooms provide flexibility for guests, family, or office space. Residents can enjoy access to neighborhood amenities including a private dock, boat ramp, and community pool and clubhouse for an additional feel The home is also conveniently located near local dining and shopping, with downtown Charleston just a short drive away.
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.
