493 Spanish Wells Rd Summerville, SC 29486
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About this home
Need more space for less money? Best bang for the buck! Welcome to this 6BR, 3BA home in Cane Bay Plantation. Built in 2020, this home has over 3,000 square feet and offers a perfect blend of space, comfort, convenience, and privacy backing to a serene pond and treed buffer. Inside, the open floorplan features a 1st floor BR and BA (perfect for weekend guests or live-in family members), a family room that opens to a supersized kitchen with a huge island, stainless steel appliances, and walk-in pantry with upgraded solid wood shelving adding everyday functionality, and a formal living room at the front of the home (ideal for a home office). First floor is complete with LVP flooring for ease and convenience! Upstairs, you'll find the primary suite along with a bonus room and 4 more bedroomswith a shared hall bath. Larger than most, the primary suite offers ample space, brightly lit with a wall of windows overlooking the backyard and pond, as well as a generously sized walk-in closet with motion sensor lighting, dual-sink vanity, walk-in shower, and linen closet in the bathroom. A separate laundry room (with washer and dryer that conveys) as well as another oversized linen closet complete the 2nd floor. Step outside to a fenced backyard with two gates (one of which is extra wide for those larger toys), a rear patio with a grill (that conveys if desired) for your summer BBQs, and a set of garden boxes perfect for growing herbs and vegetables. This house is also upgraded with an expanded driveway, cordless blinds throughout, rain gutters, whole-house surge protector, Brinks® security system with front and back cameras, and a dual-zone HVAC system on an annual maintenance plan. Another big benefit, this property is located in an X flood zone, so flood insurance is NOT required. Lindera Preserve is a golf cartable community that offers resort-style living with wonderful amenities including two pools, walking/biking trails, a dog park, various playgrounds, a pavilion with picnic areas and expansive green spaces, perfect for gatherings. Conveniently located near Publix, Starbucks, CVS, and a variety of dining and retail options at Cane Bay Shopping Center; the Cane Bay Family YMCA is also nearby, featuring a 54,000-square-foot sports facility. Schedule a showing today!
Source: CTAR #25025185
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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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