Do Not Miss this opportunity to own this Southern home nestled on an Approximately 5 ACRE lot and loaded with charming quality features. Escape the chaos and enjoy the serene privacy from the covered wrap around front porch. The traditional floor plan offers a foyer entry and a FormalLiving Room,. Dining Room is a nice size and features picture moldings and tons of natural light. Kitchen has been transformed into a modern oasis with a nice garden window, neutral paint, and beautiful white cabinets. Stainless appliances complete the space along with a pantry and breakfast area. Enjoy the open Great Room with gas logs, the perfect place to entertain and be part of all the action in the kitchen or on the deck. Office could also be used as a 4th bedroom with easy access to a full bath on the main level. Upstairs has the large master suite with an inviting SITTING AREA, full bath, and generous size walk in closet. Flex space / Bonus is located off the master with plenty of room and excess storage. Covered Balcony access near master is a great place to sit and take in all the gorgeous wildlife in the area. Two additional bedrooms, bathroom, and laundry closet complete the upstairs living space. THe attached two car garage is oversized with work bench and storage. The oversized garage will accommodate 2 large vehicles Outside is equally nice as the inside the large back deck features a covered PERGOLA and overlooks the gorgeous flat wooded, private back yard with inground Salt Water Resort style pool built in 2021 that is heated for swimming year around. Around the pool are 2 pergolas and fire pit area for the fall evenings. Featured also is the 30x50x10 Building built in 2021 with electricity that is fully insulated with 2 bay garage doors. Great for at home mechanical business or wood working shop. Never be without power as this home is equipped with whole house Generac Generator less than 3 years old. Water heater and upstairs HVAC replaced in 2021. Fairview Forest is an excellent community offering larger tract homesites for its homeowners. Horses are permitted. Just a short drive to all the conveniences of Simpsonville at Fairvew Rd, this is an excellent opportunity to MOVE RIGHT IN to your own quiet retreat.
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.
