Coming down your serene driveway, you'll be welcomed by this picturesque, 2-story, custom-built home nestled on an amazing 2.51 acre tract. This Chapin oasis has all the charm for a move-in ready home. Get ready for adventure, hobbies, and memories galore on this beautiful property! The front of the house has a southern front porch overlooking the large front yard that’s cloaked by mature trees & creating a private escape. At the end of the driveway is the 2-car detached garage. Upon entering you will see great modern touches throughout. The Great Room has a vintage look gas stove, fresh paint, tall ceilings, beautiful floors, great open floorplan, and access to the screened porch. The spacious Eat-in Kitchen has beautiful natural cabinets, a bar w/seating, granite countertops, and gleaming floors. The open concept Dining Area has plenty of room for family meals and gatherings. The Living Room/Flex Space at the front of the house has an abundance of natural light and has a great space for a home office, playroom, or 5th bedroom. The Master Suite has a vibrant living space, tall ceilings, large walk-in closet, and private bathroom w/walk-in shower, double vanity, and free-standing tub. The additional 2 bedrooms on the 1st floor share a bathroom that has a granite-top vanity & walk-in shower. Upstairs has an open loft area w/one side of the space being easy to convert to a 5th bedroom. The 4th bedroom would be the perfect teen suite or guest room w/French Doors and 2 walk-in closets. The loft & bedroom share a bathroom w/walk-in shower & vanity. Directly behind the house hosts the screened porch and custom deck. The backyard w/plenty of space for a pool & open space to roam & enjoy nature. Beyond the gated area of the yard is a more natural area perfect for exploring. This property offers a peaceful setting for relaxation, entertaining, and private enjoyment! Make this pearl yours TODAY!! **Area Perks: 10min to downtown Chapin; 15min to Lake Murray **UPDATES: New HVAC March 2024; New Flooring; Fresh paint; New fixtures; New Fantasy Brown Granite Countertops, Full Master Bath! >>FULL VIDEO TOUR ON YOUTUBE<<
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.
