Tucked onto a quiet cul-de-sac in Cornerstone of Irmo, this 2018 two-story home lives larger than its square footage suggests, thanks to a 420 square foot flex room you will not find in most homes this size. Make it a second living area, a playroom, a home office, or a media room. The space adapts to however you live.A covered front porch sets a welcoming tone. Inside, the living room (with ceiling fan) flows into the kitchen, where laminate flooring, stained cabinetry, and a bright dining area come together. Just off the dining space, the flex room gives you the kind of extra square footage that quietly changes how a household uses a home.Upstairs, the vaulted primary suite features a double vanity, a tub and shower combination, a separate water closet, and a large walk-in closet. Two additional bedrooms, both comfortably sized, share a full hall bath for a layout that is practical and easy to live in.Outside, a privacy-fenced backyard gives you room to relax or entertain, and the low-maintenance vinyl exterior means less upkeep. A two-car garage completes the home, and the included camera security system and four mounted televisions leave you less to buy after move-in.The location is hard to beat. You are about ten minutes from Columbiana Centre, Target, HomeGoods, Costco, grocery stores, and local coffee shops, with quick access to I-26 and roughly fifteen minutes to downtown Columbia and Riverbanks Zoo. The home is zoned for Lexington-Richland Five schools, including Dutch Fork Middle and Dutch Fork High.Homes built after 2015 rarely come available here. Ask for the floorplan and 3D tour. Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.
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.
