133 Spring Meadows Dr Summerville, SC 29485
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About this home
**STILL AVAILABLE FOR SHOWINGS. Buyer has home to sell**Add your personal touch to this beautiful three-story home in The Bridges of Summerville, located on a quiet street in the desirable Dorchester II School District. Major updates include roof (2020) and HVAC units (2020 & 2021). Inside, enjoy hardwood floors, two-story ceilings, and a bright open floor plan. The formal dining room offers crown molding and beadboard, while the eat-in kitchen features Corian countertops and ample cabinetry. Relax by the fireplace in the family room.The first floor includes a private office, guest bedroom, and full bath.Upstairs, the primary suite features a sitting area, huge walk-in closet, and spa-like bath with jetted tub and dual vanities. Three additional bedrooms and two more full baths complete the upper levels. The third-floor loft with full bath and closet can serve as a 6th bedroom, guest suite, or media room. Enjoy the screened porch, fenced backyard, and convenient access to shopping, dining, and Historic Downtown Summerville. **Seller offering a $6000 credit toward paint with acceptable offer**
Source: CTAR #25027554
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.