Better Than New & Move-In Ready! Welcome to 509 Malachite Lane, nestled in the highly sought-after Portrait Hill community in Chapin, where exceptional homes meet a true lifestyle experience. This beautifully maintained, one-owner home showcases one of Mungo Homes’ most popular and highly desired designs—the Carson floor plan—offering the ease of ranch-style living with dual ensuite bedrooms: a spacious primary suite on the main level and a private upstairs suite complete with walk-in closet and full bath, perfect for guests or multigenerational living. The main-level primary suite features luxury vinyl plank flooring, box ceiling, a double vanity, and a walk-in shower, creating the perfect private retreat. Featuring 4 bedrooms, 3 baths, and 2,276 sq. ft., this home was thoughtfully enhanced beyond the builder’s standard options.The sellers invested in premium upgrades including a screened porch, fenced yard, professionally landscaped beds with decorative borders, black rubber mulch and rock accents, gutter helmets, and a programmable sprinkler system—offering lasting beauty and convenience year-round. Inside, you’ll find a freshly cleaned move-in ready home with luxury vinyl plank flooring, cathedral ceilings, and a cozy gas log fireplace that creates a welcoming space for gathering. The chef’s kitchen shines with granite countertops, a gas range, wall ovens, and custom cabinetry that includes a built-in pull-out bin for trash and recycling, providing both beauty and functionality.Enjoy peaceful mornings or relaxing evenings on your screened back porch, or take advantage of the neighborhood pool, playground, and clubhouse—amenities that make Portrait Hill one of Chapin’s most desirable communities. Zoned for award-winning Chapin schools (Lexington-Richland 5) and conveniently located near shopping, dining, and Lake Murray recreation, this home offers comfort, convenience, and community all in one perfect package. Professionally cleaned, exterior wash completed and truly move-in ready—509 Malachite Lane is better than new and ready to welcome you home. 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.
