211 Brailsford Rd Summerville, SC 29485
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About this home
Welcome to this stunning brick ranch home, offering an impressive 2,288 sq. ft. of living space designed for both comfort and entertaining. Please note, this property that offers a unique quality of life, backs up to the start of new construction. Seller agrees to pay up to $10,000 to buy down the interest rate by 3/4% ( depending on the loan amount and credit score) which would save approximately $175 a month in payments each month with the use of preferred lender. As you step through the slate foyer, you'll find a large family room perfect for gatherings. The eat-in kitchen features beautiful tile countertops, seamlessly connecting to a formal dining area. With four spacious bedrooms, including a master suite with a walk-in shower and an expansive walk-in closet, this home meets allyour family's needs. The master suite opens to a generous sunroom which is equipped with a full kitchen, making it an ideal space for relaxation or hosting. Enjoy outdoor living with a large 16 by 36 above-ground pool and a two-tier deck that enhances your backyard experience. A versatile room over the garage provides additional possibilities for customization. This home is in move-in condition and features LTV flooring throughout the main living areas and encapsulated crawl space for added peace of mind. Don't miss the opportunity to make this beautiful home yours!
Source: CTAR #25001795
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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.