Welcome to 601 Salterton St, tucked inside the well-established Summerville Place neighborhood on an expansive pond-view corner lot. This charming single-story home immediately stands out with classic brick accents, mature landscaping, a wide driveway, and a two-car garage. Pride of ownership is evident throughout, with the current owners having thoughtfully and tastefully updated every inch of the home, creating a move-in-ready space that feels both stylish and comfortable. Inside, you'll find an airy floor plan filled with natural light, vaulted ceilings, and attractive flooring throughout the main living spaces. The family room offers a warm focal point with a fireplace and custom wood mantle, while the nearby dining area is framed by oversized windows and high ceilings.The kitchen blends style and function with stainless steel appliances, updated countertops, tile backsplash, ample cabinetry, and a custom pantry featuring built-in shelving and storage. The split-bedroom design creates wonderful privacy, with the primary suite set apart from the secondary bedrooms. This relaxing retreat includes vaulted ceilings, backyard access through sliding glass doors, a barn-style door, an organized walk-in closet, and an updated ensuite bath with dual vanity, sleek fixtures, and a large glass-enclosed shower. The additional bedrooms are generously sized and share a beautifully refreshed full bathroom, making them ideal for family, guests, a nursery, or a home office. Out back, enjoy a fully fenced yard with peaceful pond views from the rear of the property. The covered patio is perfect for shaded dining, while the gazebo seating area with a fire feature creates an inviting place to unwind. Mature trees, established greenery, and a spacious yard add to the private, relaxed setting. Major mechanical systems, including the HVAC and water heater, have been replaced for added peace of mind. Conveniently located near restaurants, supermarkets, Joint Base Charleston, Boeing, Mercedes, Volvo, Summerville, and downtown Charleston, and zoned for award-winning Dorchester II schools, this home offers comfort, character, and everyday convenience. Don't miss your chance to make it yours!
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.
