Located in the heart of Northeast Columbia, 316 Legend Oaks Drive offers the perfect blend of charm, comfort, and convenience in the well-established Legend Oaks neighborhood. This quaint and cozy three-bedroom, two-bathroom home immediately captures attention with its inviting curb appeal, creating a warm first impression that truly feels like home. Mature surroundings and a welcoming exterior set the tone for what lies inside—a thoughtfully laid-out residence designed for easy living and everyday comfort. Step inside to discover a functional floor plan that makes the most of every square foot. The living spaces are comfortable and inviting, ideal for relaxing after a long day or gathering with friends and family. Natural light filters through the home, enhancing its cozy atmosphere and highlighting the home’s charm. Each of the three bedrooms offers a comfortable retreat, while the two full bathrooms provide convenience and privacy for both residents and guests. Whether you’re a first-time homebuyer, downsizing, or searching for a low-maintenance property, this home offers a layout that is both practical and welcoming. One of the standout features of this property is its location within the established Legend Oaks community. Known for its peaceful setting and neighborly feel, this neighborhood offers a sense of stability and comfort that is increasingly hard to find. The home’s location also provides exceptional accessibility to some of Columbia’s most sought-after destinations. Just minutes away, the Village at Sandhills offers a wide variety of shopping, dining, and entertainment options, making errands and nights out effortless. Proximity to Fort Jackson makes this home especially appealing for military personnel or anyone seeking easy access to the base. In addition, major interstates are conveniently close, allowing for smooth commutes to downtown Columbia and surrounding areas. Whether you’re heading to work, meeting friends, or planning a weekend getaway, the central location keeps you well connected while still offering a quiet place to call home. With its charming character, manageable size, and prime Northeast Columbia location. Disclaimer: CMLS ha
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.
