*Ask about the possibility of receiving reduction in interest rate and free refi.* Situated on a spacious corner lot in the Colony North community of North Charleston, this charming home offers incredible potential, including an in-ground pool and no HOA, all in a wonderfully convenient location. A tall shady tree, a circular driveway with access from both Kittery Avenue and Eller Street, an additional driveway with a carport, and an inviting exterior set the tone from the moment you arrive. The roomy front porch, framed by three brick archways, leads to double front doors that open into the foyer.To the left of the foyer, glass French doors welcome you into the formal living room.From here, continue into the formal dining room with easy access to the functional eat-in kitchen featuring granite countertops, double wall ovens, and abundant storage. Step down from the kitchen to the comfortable family room, complete with a cozy brick-surround fireplace. A laundry room and powder room are located just off this space for added convenience. Upstairs, the primary bedroom includes its own ensuite bath. A full bathroom and three additional bedrooms, including one currently set up as an office with built-in desks and cabinets, and two that offer access to the second-story porch, complete the second level. Out back, a covered patio, an in-ground swimming pool, and two storage sheds provide plenty of options for outdoor living. The fenced-in yard is ready to be customized to your liking, and the garage offers even more storage space. With Ashley Phosphate Road, I-26, and numerous dining options less than two miles away, Northwoods Mall and Target under three miles away, and Charleston International Airport just over eight miles away, this location offers outstanding accessibility. Come by today and see the incredible potential this property has to offer. Some images have been virtually staged/enhanced.
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.
