THE LOWEST-PRICED SINGLE-FAMILY DETACHED HOME BUILT IN 2021 OR NEWER CURRENTLY AVAILABLE IN WEST ASHLEY! NO FLOOD INSURANCE REQUIRED! Finding a move-in-ready home of this caliber under $440,000 is a rare opportunity. This pristine ''Cabral'' floorplan offers 1,634 square feet of contemporary living space, blending modern construction with impressive energy efficiency.Inside, 9-foot ceilings and an expansive open-concept layout create a bright, airy main level that naturally connects the living and dining areas. The kitchen serves as the centerpiece with a massive granite island, gas range, dedicated pantry, abundant cabinetry, and stainless steel Whirlpool appliances.Upstairs, a versatile bonus loft is perfect for a home office, media room, playroom, or secondary living area.The spacious primary suite features a massive walk-in closet and private en-suite bathroom with cultured marble countertops. Two additional bedrooms, a pristine guest bath, and dedicated second-floor laundry complete the upper level. The fully fenced backyard backs to a serene wooded buffer, providing added privacy with no immediate homes directly behind the property. Additional highlights include an attached two-car garage, integrated smart-home technology, a tankless water heater, and HERS-rated energy-efficient construction. Grand Oaks Plantation offers neighborhood walking trails, nearby parks and recreation, and convenient access to everyday shopping and dining. The Bees Landing Recreation Center, featuring athletic fields, tennis courts, and playgrounds, is just moments away. Quick access to Glenn McConnell Parkway, Highway 17, and I-526 makes commuting to Downtown Charleston, area hospitals, major employers, and the airport easy. Newer construction, move-in-ready condition, a private wooded setting, and the most competitive price of its kind in West Ashley. Schedule your showing before this opportunity is gone!
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.
