120 Coventry Lake Dr Lexington, SC 29072
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About this home
Price Improvement!!! No HOA!!!! Look no further! Seller offering up to $2,000 credit towards rate buy down, paint, updates, or closing costs. This colonial style home, has so much love it wants to share with you! A dreamy southern, covered front porch with new flooring, as well as a new 2 Story back deck. Zoned for award winning Lexington One School District. The location could not be any better as all the shopping, dining, entertainment, and modern conveniences of Lexington are 2 to 3 blocks away at your finger tips! Golden Hills Golf and Country Club just 7 minutes away. With I-20 just minutes away, and Lake Murray very near, this location can not be beat! The backyard offers a serene space with adequate privacy. The front yard has been updated with new Bermuda Sod. The entire upstairs has been updated with vinyl plank flooring, and the living room and bedroom on 1st level, has new carpet. This home also features a 369 square foot finished basement with a split system that opens up to the garage and has built in shelves that could be used as storage, bedroom, office, man cave, or could easily be converted into an in-law suite! In the back of the garage you can also find a dedicated workshop or additional storage area with electricity. The garage also has a utility access door allowing access to the back yard. The drive way has been extended to allow additional parking. Washer and dryer may convey. This home also displays all new kitchen appliances: Refrigerator, stove, and dishwasher. New Hot Water Heater (July 2025)! New flooring on the front porch with pull down screens for privacy. The primary bed has his and her closets and the primary bath boasts a new vanity and light fixtures. A new thermostat and HVAC has also been installed to compliment the homes features. Make this Southern Belle yours! Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.
Source: COLUMBIASC #607723
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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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