216 Congaree River Dr Summerville, SC 29485
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About this home
Welcome to Lakes of Summerville ! .... ''SELLER is offering $10,000 in CONCESSIONS to BUYER for closing cost assistance with agreed upon purchase price between both parties !'' .... This desirable ''End Unit'' is looking for a a new owner ! Upon entering, you find yourself greeted by vaulted/cathedral ceilings and LVP woodgrain flooring of a golden shade which extends into the family room, the master bedroom, the 1/2 bath, and the eat-in-kitchen. The master bedroom is to the left after entering and is just off of the family room. The master bedroom has a walk-in closet which is quite large and an ample sized master bath with a tub/shower combo. There is a 1/2 bath located to the left as you venture towards the eat-in kitchen. The kitchen has stainless steel appliances and boastsa new "black finish" refrigerator. The laundry room is to the left in the kitchen and can accommodate both a full-size washer and dryer. To the rear of the home is the sunroom possessing lots of natural light. There is also a large closet in the sunroom which houses the water heater and provides an area for quite a bit of storage. Before you make your way upstairs, you pass a coat closet which also has "storage under the staircase" for those items you may rarely use, but need. When you get to the second floor, you will find two large guest rooms, both of which have ample closet space. The guest bath is just off of the upstairs landing and there is also a large linen closet in the hallway leading to the guest bath. Don't let this "End Unit" get away ! Hope to see you soon ! :-)
Source: CTAR #25024856
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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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