535 Cordgrass Rd Elgin, SC 29045
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About this home
This hard-to-find, 4 bedroom, 3.5 bath, 3731 sqft well-maintained, and stunning basement home is gorgeous and thoughtfully designed. The landscaped grounds invite you into the front yard to a covered front porch contemporary home, which rests in a very sought-after neighborhood. Once inside, you are warmly greeted with high ceilings, hardwood flooring, columns, a formal dining room, formal living room, and a Great room that seamlessly connects to the kitchen. The kitchen offers granite countertops, stainless appliances, a pantry, a bar, an eat-in breakfast area, and well-finished cabinets. The breakfast area opens to a large composite deck that overlooks a huge fenced backyard with a sprinkler system and a stamped concrete patio for relaxing and entertaining. The second floor provides a large master bedroom with a customized, meticulous, attention-to-detail closet, prep station, double vanity, separate shower, garden tub, and a double tray ceiling. Two additional bedrooms share the second level with a shared bath. This elegant home keeps giving. The basement provides plentiful space for guests, in-laws, or a private getaway for personal time. There is a cozy large bedroom with two electric fireplaces, a private shower with massage jets, and a bowl-style vanity. Lastly, the home is zoned for Richland two award-winning school districts and is just minutes from all major shopping, Fort Jackson Army, and Shaw Air Force bases. Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.
Source: COLUMBIASC #619649
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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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