Full of character, warmth, and solid craftsmanship, this inviting 3-bedroom, 1.5 bath home offers the perfect blend of comfort, updates, and future potential. With great bones and many major improvements already completed, it’s ideal for buyers who want a home they can personalize over time while enjoying immediate livability. Offering approximately 1,819 square feet on the main level and 668 square feet in the basement—the layout provides flexibility for everyday living, entertaining, and long-term growth. The home features two spacious den/living areas, giving you options for a family room, home office, playroom, or media space. In addition, the home includes another 540 square feet of unfinished basement. Major system upgrades were completed in 2017, including the HVAC, 40-year architectural roof, water heater, and energy efficient windows, giving buyers peace of mind for years to come. Inside, you’ll find a cozy real fireplace with gas logs, hardwood floors in all bedrooms and the hallway, and a comfortable mix of hardwood and carpet throughout the main level. The kitchen offers excellent expansion potential, making it easy to envision a larger, more modern cooking and gathering space. The washer and dryer are located in an enclosed room with HVAC, adding convenience and comfort—no stepping into a cold or hot utility area. A large portion of the basement is also served by HVAC, making it usable year round. With plumbing already in place for a future bathroom (toilet, tub, sink), the basement offers tremendous potential to become a second living quarters, guest suite, workshop, or recreation area. Storage is abundant throughout. The former carport at the basement level has been enclosed, creating even more usable space that can easily be finished into additional living area, a home gym, studio, or mudroom entry. Situated on almost 0.8 acres, the property provides a peaceful, spacious setting with room to garden, play, entertain, or simply enjoy the outdoors. An outbuilding offers additional storage, perfect for tools, lawn equipment, or hobby items. Location is another standout feature—just minutes from downtown Spartanburg, with its restaurants and cultural amenities, and close to Croft State Park, a stunning 7,054-acre natural escape offering hiking, horseback riding trails, camping, and a 165-acre lake for fishing and paddling. It’s the perfect blend of convenience and outdoor adventure. While the home does need some TLC, the improvements are straightforward and can be completed to make this property truly shine. With its strong structure, major updates already in place, flexible layout, and exceptional location, this home offers a rare opportunity for buyers seeking value, comfort, and long-term potential.
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.
