Welcome to this beautifully updated home situated on 1.28 acres in the peaceful countryside of Inman! Located at 425 Hannon Road, this property offers the perfect blend of privacy, charm, and convenience with easy access to both Inman and Spartanburg. Enjoy being just minutes from local shopping, dining, schools, Lake Bowen recreation, and convenient access to I-26 for commuting throughout the Upstate. Inside, you’ll love the warm character and thoughtful updates throughout featuring hardwood floors, box ceilings, shiplap accents, recessed lighting, and ceiling fans throughout much of the home. The living room offers a cozy gas log fireplace and double-hung tilt windows, while the dining room showcases hardwood flooring and detailed ceilings for added charm. The kitchen is designed for both function and style with granite countertops, painted cabinetry, a huge farmhouse sink, gas stove, stainless steel appliances, refrigerator included, dishwasher, microwave above the counter, and beautiful shiplap ceilings. The remodeled primary suite features a tiled shower, single vanity, tiled bathroom flooring, walk-in closet, hardwood flooring, and ceiling fan. Additional bedrooms offer hardwoods, box ceilings, private closet space, and custom touches throughout. The shared bath has also been remodeled with a full tub/shower combination. Outdoor living is where this property truly shines! Enjoy the covered front porch with brick stairs and wood handrails, screened porch, back deck, firepit area, retaining wall, and fenced dog area — all surrounded by the beauty of the spacious 1.28-acre lot. Additional exterior features include a turnaround gravel driveway, brick exterior with shutters, gutters, long driveway, solar lights, natural gas service, Lennox HVAC system, crawl space, and a 10x15 shed for extra storage. If you’ve been searching for updated country living with character, land, and room to enjoy the outdoors, this turn-key property is a must-see! Inman, SC, offers scenic views of the Blue Ridge Mountains, particularly Hogback Mountain located in nearby Landrum, which is frequently visible from spots like Lake William C. Bowen and local parks. The area is known for beautiful, clear views of the distant mountain range rising from the foothills.
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.
