116 Calming Creek Way Elgin, SC 29045
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About this home
Welcome to The Paddock at Woodcreek featuring your new smart home, where modern convenience meets everyday comfort. The main floor features a spacious family room with a cozy fireplace that flows seamlessly into the kitchen and dining area, which is perfect for gatherings and entertaining. The kitchen is complete with a large island, gorgeous granite countertops, ample cabinet space and a built-in surround sound that allows you to enjoy music throughout the home. There is also a mudroom directly off of the garage that flows into the kitchen. A convenient half-bath is located just off the entry, and the covered back patio provides the perfect space to relax outdoors within the fenced-in backyard. Upstairs, you'll find well-proportioned bedrooms and a full guest bathroom. The owner's suite suite is beautiful and spacious with tray ceilings, a walk-in closet, a full bathroom with a garden tub, separate shower and a double vanity. the home is designed with smart features and energy efficiency, including a tankless water heater, a system that gives you remote access to the thermostat and lighting. The flooring is comprised of durable luxury vinyl plank, which helps make floor maintenance and cleaning easier, especially for busy households. This home is also convenient to Fort Jackson, interstates, shopping and dining. It is located within the zone of the award-winning Richland Two School District. If you've been searching for a modern home that blends style and efficiency, this is the one! Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.
Source: COLUMBIASC #617473
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FAQs
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.
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