Rare find in Waterside Landing and located in the highly sought-after DD2 school district! This spacious 4BR cul-de-sac home features multiple living areas, a large loft, and a fenced yard backed up to protected woods. With brand new carpet upstairs and all appliances included, this home is ready to move in and enjoy! Welcome to 3036 Ellington Drive--where space, comfort, and opportunity come together in one of Summerville's most stable communities, Waterside Landing.Tucked away on a quiet cul-de-sac, this spacious 4-bedroom home offers the ideal layout for modern living. Step inside to find multiple living and dining areas, giving you the flexibility to host, relax, and spread out with ease.Whether you're entertaining guests or enjoying a quiet evening at home, this floor plan adapts to your lifestyle. Upstairs, a large loft provides the perfect bonus space--ideal for a media room, home office, playroom, or extra spacious living area. Each of the four bedrooms offers comfort and privacy, making this home well-suited for families, guests, or remote work setups. Step outside to enjoy a fully fenced backyard--perfect for pets, play, or relaxing evenings--with the added bonus of protected woods behind the property, offering privacy and a peaceful natural backdrop. Located in an X flood zone, this home offers added peace of mind and potential savings. Even better, all appliances convey--including the refrigerator, washer, and dryer--making this a true move-in ready opportunity. Homes in Waterside Landing rarely hit the market, making this a unique chance to secure a place in a well-established, desirable neighborhood known for its chill vibes and community feel. If you've been searching for space, versatility, privacy, and a prime location in Summerville, this home checks all the boxes. Schedule your showing today and come see why 3036 Ellington Drive stands out.
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.
