160 Granton Edge Ln Summerville, SC 29486
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About this home
Welcome to West Lake at Cane Bay Plantation, where you have full access to all of the fun that Cane Bay has to offer! With access to the 350 acre lake system via a dock diagonally across the street, all of your boating (electric motor*) and fishing dreams can come true! Looking for a perfect golf cart community? This is it! Cane Bay offers miles of walking and golf cart trails, with shopping and restaurant accessible without even starting your car! And the house itself! Phenomenal! This Belfort floor plan offers almost 2,400 square feet of living space, 4 total bedrooms, 3.5 bathrooms, and a downstairs primary bedroom with large bathroom and walk-in closet! As soon as you walk up to the door through the front porch flanked by palm trees, you'll feel like you're walking into your SouthernDream! You'll appreciate the hard floors throughout the entire downstairs living areas and the huge open concept living area! The kitchen features Shaker style cabinetry, stainless appliances including gas range, and a massive island with granite countertops! A large living room with gas fireplace overlooks the full sized dining area, which leads out to your screened porch and large fully-fenced back yard. Upstairs, you'll find a massive loft, which is perfect for a second living space, media room, playroom for kids, or a game room! Three additional generously sized bedrooms can be found upstairs, all with ample closet space and one with a private en-suite bath, making a perfect guest suite! West Lake features a huge pool with a kids area, pickle ball court, fishing pier, boat ramp, large playground, horseshoe pit, bocce court, and a gorgeous fire pit overlooking the lake! If you're looking for resort-style amenities and access to all that Cane Bay has to offer, look no further! **This home also features a 4.125% Assumable Loan if Buyer qualifies**
Source: CTAR #25027462
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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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