Welcome Home to this exquisite property in the sought after Saddlebrook subdivision across from the Lugoff Elgin Recreational Facility with ballfields, walking trails & kids park off Whitehead Rd & minutes to Interstate 20 & to Columbia, Fort Jackson & about 30 minutes to Shaw Air Force Base in Sumter, SC. This executive open floor plan was built by Essex Homes in 2014 with style & quality construction located on a safe cul-de-sac & it features a covered Front Porch for your Rocking Chairs & upstairs is a Balcony off the Flex Room/Loft to overlook your landscaped plush yard with beds, sprinkler systems & a well for watering your yard. The sellers have done many upgrades with new flooring throughout the main level with Luxury Vinyl Plank flooring, Nine foot plus high smooth ceilings, new stairway step coverings, added a whole house Generac Generator, added a 20' X 20' Two Car Detached Garage with its own sink & electrical panel, garage doors & it can double as a workshop/shed area with extra storage & you have the 2 Car attached Garage as well. The rear yard is landscaped & has sprinklers from the well water, full gutters & a concrete Patio for grilling out & entertaining in the fully Fenced Yard with a Wooden Privacy Fence. As you enter the foyer the Formal Living Room can be an Office with French Doors, a Huge Formal Dining Room has Extra Moldings & high ceilings with Elegance overlooking the massive Great Room with gas logs in the Fireplace, Ceiling Fan & Surround with Mantle. The Gourmet Kitchen has a Breakfast room with Bay Window area, Breakfast Bar for stools, Granite Countertops with Tile Backsplash, Big Kitchen Cabinets, all appliances remain including the Gas Double Convection Oven w/Grill, Pantry, storage closet & Laundry room with W&D connections. Upstairs is a huge carpeted Loft area that has a Closet so it could be a Fourth Bedroom if needed, Security system, two large bedrooms with Fans & large closets, Shared Hall Bath with granite counters, a spacious Primary Suite with ceiling fan, Tray Ceiling, a Sitting Room with Bay, Private Master Bath with a seperate Garden Tub & separate Shower, double vanity, large Walk-in Closet & Pull Down Attic Stairs
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.
