404 Savannah River Dr Summerville, SC 29485
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About this home
Welcome home to one of the most spacious and adorable townhomes in Lakes of Summerville--offering over 1,600 square feet of living space (compared to the neighborhood average of 1,200-1,400) plus an attached garage which is truly a rare find. This well-kept home is perfect for those seeking extra space and low-maintenance living. Open concept living space/kitchen/dining downstairs along with the half bath. Upstairs features the primary bedroom with en suite private bathroom, the secondary bedroom, the full hall bathroom, and the laundry room. The exterior features a long driveway, charming covered front porch, and a large back patio perfect for grilling or entertaining. The lot backs up to a wooded buffer for added privacy.The low HOA dues include access to the neighborhood pool, professional landscaping, pest control and termite bond, and exterior maintenancesuch as annual pressure washing, siding upkeep, and roof repairs. Roof was replaced in 2022, and the HVAC unit was replaced in 2022. And as an added bonus: the fridge conveys! Lakes of Summerville is conveniently located in the midst of all Summerville has to offer, while being tucked away at the same time. 10 minutes to historic downtown Summerville, 10 minutes to Nexton shopping and restaurants, and 10 minutes to I-26. Opportunities like this don't come often in this neighborhoodwith the rare garage and extra square footage... schedule your showing today to make it your new home sweet home or investment property!
Source: CTAR #25028107
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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.