This Calhoun Lakes ranch home blends modern updates with inviting warmth and character. Sitting on a 0.68-acre fenced lot, just minutes from downtown Spartanburg, this home delivers comfort, style, and everyday livability. From the moment you arrive, the home’s curb appeal stands out with a beautiful front porch, landscaped steps, and a striking stone-accented entry that sets the tone for what’s inside. The great room welcomes you with a vaulted ceiling, exposed beams, a stunning wood-burning fireplace, and a warm stone feature wall that continues into the foyer, creating an immediate sense of character and cohesion. Light fills the living spaces through numerous windows, enhancing the open, airy feel. The great room flows naturally into the family room through wide sliding glass doors, creating a connected layout while still allowing each space to serve its own purpose. The family room opens directly to the patio, extending the living area outdoors. The kitchen is both bright and functional with white cabinetry, warm-toned LVP flooring, granite countertops, and a central island with seating. A spacious breakfast area includes a built-in microwave with counter cabinetry, while the dining room offers generous space and abundant natural light. The home features four bedrooms and two and a half bathrooms, thoughtfully arranged for comfort and flexibility. The primary suite includes two walk-in closets, double vanities, and a beautifully finished shower. All bedrooms feature large windows, and the fourth bedroom could easily serve as a home office. A large laundry room with cabinetry and counter space, along with a sizable hallway linen closet, adds to the home’s practical design. A two-car attached garage features a polystyrene-injected door designed to improve insulation and overall comfort. The expansive, fenced backyard offers room to relax, play, or accommodate pets. Recent improvements include a serviced and tuned HVAC system, along with a newly sealed crawl space and a new dehumidifier, adding to the home’s comfort and efficiency. With no HOA and a location just 12 minutes from downtown Spartanburg, this home offers a truly move-in-ready feel in the established Calhoun Lakes community.
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.
