Three-bedroom, one-and-a-half-bathroom single-level brick ranch in Sea Gate Village, one of Myrtle Beach's most established and walkable coastal communities, situated between Myrtle Beach State Park and The Market Common. This move-in ready home features parquet flooring throughout the bedrooms, living room, and dining room, white shaker cabinetry, a tile backsplash, stainless steel appliances including a dishwasher and refrigerator, and a pendant-lit kitchen with direct access to the rear patio. The floor plan includes a foyer entry, a spacious living room, an added separate family room, dedicated kitchen, central hall, two bathrooms, and a huge dedicated laundry room. A fenced rear patio courtyard with mature tree canopy provide private outdoor living space well-suited for relaxing or entertaining. Roof was replaced in 2021. Sea Gate Village sits within walking and biking distance of the Atlantic Ocean, with golf cart access to groceries, shopping, dining, and the beach. Grand Park adjoins the community and offers a full-service gym at Crabtree Gym, a roller hockey rink, running track, fitness trails, and ball fields. Barc Parc South - a 14-acre wooded park with a scenic lake - is nearby, as is Horry Georgetown Technical College and the International Culinary Institute of Myrtle Beach, home to a weekly farmers market. Just across Business 17 is the entrance to Myrtle Beach State Park, featuring a fishing pier, nature trails, beach access, and a campground. The Market Common is minutes away, offering shops, restaurants, a bowling alley, and a movie theater. Sea Gate Village delivers a tremendous combination of coastal access, neighborhood recreation, and everyday convenience in the heart of Myrtle Beach, South Carolina - ideal as a primary residence, second home, or investment property. Square footage is approximate and not guaranteed. Buyer is responsible for verifying.
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.
