***Ask about the possibility of receiving 1% reduction in interest rate and free refi.*** Situated in Azalea Ridge within the incredible Summers Corner community in Summerville, this lovely and spacious home offers thoughtful design and desirable features at every turn. With green space positioned practically across the street and welcoming curb appeal, the approach to the front porch immediately sets a charming tone. Step inside to a soaring two-story foyer, attractive flooring, abundant natural light, and an open layout that invites you to explore further.Continue down the hallway to the bright and open living and dining areas, where multiple windows frame views of the backyard and allow sunshine to pour in.The dining area offers easy access to the patio and backyard, creating a seamless space for indoor-outdoor living. The beautifully appointed kitchen is sure to impress with granite countertops, abundant white cabinetry, a subway tile backsplash, stainless steel appliances including a gas range, a spacious pantry, and a center island with seating. A convenient powder room completes the main level. Upstairs, a flexible loft space provides the perfect spot for a media room, play area, or home office. The primary bedroom serves as a peaceful retreat, offering a large walk-in closet and an ensuite bath with dual vanities, a roomy soaking tub, and a step-in shower. Three additional bedrooms, a full bathroom, and a laundry room complete the second level of the home. The location is another standout feature, nestled in the DD2 school district and within two miles from both Sand Hill Elementary and Rollings Middle School of the Arts. Historic Downtown Summerville is 10 miles away, and I-26 is less than 12 miles. Summers Corner is known for its exceptional amenities, offering residents access to a pool, dog park, multiple green spaces, fire pits, ponds, and scenic walking trails. Exclusive access to Buffalo Lake, a 95-acre freshwater lake, means endless opportunities for kayaking, canoeing, and fishing. Even more excitement is on the horizon with The Club at Summers Corner currently under construction. Upon completion, this optional-membership facility will showcase one of the largest community swimming pools in South Carolina, complete with an adults-only pool, splash park, beachside lagoon, tiki bar, and an array of additional features. Don't miss your opportunity to call this home your own.
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.
