Assumable 2.34% loan! Pond views, trail access, and a backyard made for Lowcountry living. This meticulously maintained open floor plan home sits on a peaceful pond lot with pine views and easy access to the miles of Cane Bay's famous nature trails. A new architectural shingle roof was installed in 2024 for added peace of mind. The kitchen features updated cabinetry with convenient pull-out drawers for effortless organization, while the living room includes built-in ceiling surround sound, perfect for movie night or entertaining. Step outside to the 14x10 covered porch overlooking the pond, ideal for morning coffee and sunset views.The rest of the home continues the open and functional layout with spacious bedrooms and a comfortable primary suite featuring a relaxing garden tub. Natural light flows through the main living areas, creating a bright and inviting space whether you're hosting friends or enjoying a quiet night at home. Step outside and the backyard really shines. The 14x10 covered porch overlooks the peaceful pond and makes a perfect spot for morning coffee or evening sunsets. The fenced yard offers plenty of space for pets or play, and two palm trees are perfectly positioned for a hammock, giving the backyard a laid-back Lowcountry feel. Beyond the fence you'll find easy access to Cane Bay's miles of nature trails, perfect for walking, running, or biking through the community's scenic green space. Residents also enjoy access to the community pool along with nearby shopping, dining, and everyday conveniences. With pond views, outdoor living, and the added benefit of an assumable 2.34% loan, this home offers a rare opportunity in one of Cane Bay's most popular areas. Include: Proof of Funds or Pre-Approval and any pertinent information. The information herein is furnished to the best of the Listing Agent's knowledge but is subject to verification by the purchaser and their agent. Listing Agent assumes no responsibility for correctness thereof, nor warrants the accuracy of the information or the condition of the property. If square footage is important please measure.
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.
