520 Blue Lake Dr Lexington, SC 29072
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About this home
BACK ON THE MARKET and Better than Ever! New Granite Counter Tops in Kitchen, Fresh Paint and New Flooring throughout (plank flooring on the mail level and new carpet on the second level). 520 Blue Lake Drive boasts 5 large Bedrooms with 3 ½ Baths and a 2-car garage. Welcoming front porch overlooks a quiet street and sidewalks. Foyer opens to a generous landing with nooks for décor. To the right of the landing is the Formal Dining Area with a large picture window. The layout flows from the front entrance through to the Living Room with wood burning fireplace. The Living Room opens to the Kitchen with a pass-through “window” and bright breakfast area. New granite counter tops with loads of cabinets make every task in this Eat-in Kitchen a delight. All appliances and a large pantry make this Kitchen complete. Half bath for guests is discreetly tucked away in the hall leading to the Master Suite. Master Suite on the main level with a huge walk-in closet along with a private bath has it all.. a double vanity, garden tub, separate shower and water closet. The second level has four additional Bedrooms, two full Bathrooms and a Bonus Room currently used as an extra living room and office. Utility Room just inside the entrance from the garage has washer/dryer connections, shelves for organization and space for an additional appliance or storage. There is no wasted space in this smart floor plan! Lovely flower beds are scattered throughout the landscaping from front to back with partially fenced in the back yard due to neighboring fences. House comes with a 12-month home warranty. Outstanding location on the edge of shopping and dining between Lexington and Gilbert. Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.
Source: COLUMBIASC #618002
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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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