Tour the elegant 322 Kenmore Park Drive in The Homestead subdivision and call this one home today! Featuring cul-de-sac living and seclusion away from busyness, the traditional architecture of this home beckons you to see more. The sprawling front porch with fans and handrail adorn the warm front façade and are the best for enjoying relaxing mornings. A double car garage and rear wood privacy fencing will help this one to meet your search criteria. Cool interior tones provide you with a wonderful palette of options to make this one your very own in both inside and outside. Upgraded lighting and rustic laminate floors are featured throughout the living spaces. Dining and living rooms both include easy access to the kitchen and backyard views are readily available in the eat-in area, living room, and master bedroom. The living room also features its own box ceiling, recessed lighting, and a gas log fireplace and is ready for entertainment. The kitchen includes a host of white cabinetry with silver accents and stainless steel appliances. A tiled backsplash and easy access to the laundry room are perfect for hub of daily life in and around the kitchen. The spacious master suite is complete with a separate shower and garden tub, dual vanity, and large walk-in closet. Please be sure to check out the massive additional spaces on the second floor including the finished room over garage and additional room which is another living space. Altogether, these are around 634 square feet. Richland 2 school districts, convenient access to I-20, I-77, and Two Notch Road amenities including Sandhills shopping as well as Fort Jackson make this one a top notch locale for the Columbia area. Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.
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.
