Welcome to this beautifully maintained three-bedroom, two-bathroom home located in the desirable 55+ Woodlake Village community in Murrells Inlet. Perfectly positioned on a cul-de-sac, this home offers a peaceful lake view which gives stunning sunsets you can enjoy right from your backyard or sunroom. Inside, the home features a bright and open living room and dining area with vaulted ceilings and enhanced by solar sun lights that bring in more natural light throughout the space. The kitchen is well appointed with granite countertops and stainless-steel appliances. The LG washer and dryer, which convey with the sale, have been relocated to the garage to allow for the addition of a pantry in the kitchen. A Halo water filtration system has also been added for extra convenience and quality. The primary suite includes an ensuite bathroom with a walk-in shower. Additional home features include gutters with leaf guard covers and a garage door equipped with a retractable screen. Perfect for enjoying the coastal breeze while keeping bugs out. The driveway has been widened and additional concrete has been poured to create a larger side patio area. Offering more space for outdoor living. Woodlake Village offers amenities including a community pool, pickleball courts, pool table, bocce ball, shuffleboard and more, all located just a short distance and view from the home. Conveniently located near shopping, restaurants, golf, beaches, and everything the Grand Strand has to offer. This home is also located in the St. James school district. Don’t miss this opportunity to own a home with a premium water view in a sought-after community. Schedule your showing today and come tour your future home!
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.
