When envisioning your ideal Pawleys Island retreat, be sure to place this exceptional property at the top of your list. This single-story brick ranch home sits on a beautifully maintained lot, lovingly cared for by its original owner, and surrounded by exquisite year-round gardens that create a true sense of serenity. Upon entering the foyer, you are welcomed by impressive 11-foot ceilings that immediately enhance the home’s open and airy feel. The living room centers around a charming wood-burning fireplace, offering a natural gathering point for family and friends. A wall of expansive windows offers stunning views of the lush outdoor sanctuary, seamlessly blending indoor comfort with the beauty of the surrounding landscape. One of the standout features of this home is the spacious screened porch addition, thoughtfully designed to provide a peaceful transition to the private backyard. This inviting space is ideal for morning coffee, afternoon reading, or evening relaxation while enjoying the coastal breeze. The kitchen comes fully equipped with all major appliances and offers convenient connectivity to the dining room, making it easy to entertain or enjoy casual meals. The primary suite is generously sized and filled with natural light, leading into a recently remodeled ensuite bathroom complete with dual sinks and a walk-in closet. The split-bedroom floor plan ensures privacy for guests, with a pocket door that allows the secondary bathroom to function as an ensuite when needed. The third bedroom offers flexibility as either an office with built-ins or a traditional bedroom layout as it includes both a closet and a door. Additional features include a dedicated laundry room and a two-car side-load garage with pull-down attic access for extra storage. Heritage Plantation is renowned for its extensive amenities and 24/7 security, making it one of the area’s most desirable communities. Residents enjoy access to a community pool, four tennis courts, four pickleball courts, a fitness center, marina, and clubhouse. Internet and cable services are also included, adding to the convenience and value of this exceptional neighborhood.
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.
