100 Oak Trace Ct, Chapin, SC 29036
4 beds · 4 baths · sqft sqft
Amazing 4/3.5 over 3500sf Timberlake Plantation home with formal dining, living room, sunroom, and massive great room on the second floor. Brand new Anderson Doors. New roof in 2018, and in 2019 all new stainless steel kitchen appliances The stunning living room has a gas fireplace with a wet bar. The first-floor main bedroom has direct access the the sunroom with a walk-in shower, soaker tub, and marriage-saver water closet! Other features include a tankless water heater, a whole house Generac generator, and a massive deck overlooking a stunning pond and the Timberlake Country Club 12th fairway. The whole home has new plumbing throughout. The walk-in crawl space has an encapsulated vapor barrier. The finished 2nd floor is perfect for a mother-in-law or teenager suite with so much walk-in storage you won't believe it. The 2 car garage on this corner lot provides even more space for storage or multiple refrigerators/freezers There is also a lifetime warranty from Mount Valley Foundation for structural integrity which is priceless. The expanded back deck has natural gas plumbed for the grill. Maintanance contracts for HVAC, fireplace, and plumbing systems are included. The home sits next to a wooded lot that can never be developed which provides a wonderful sence of privacy and nature. The school bus stop is on the corner in front of the house. Charm, elegance, roominess, and the huge amount of storage make this home a showplace. Timberlake Country Clubmbership includes amenities such as an award-winning golf course, swimming pool, tennis courts, and Marina which can be purchased separately (NOT included in purchase price).
Source: COLUMBIASC #596175
Interest rate and monthly payment estimated based on public records.
Source: COLUMBIASC #596175
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
MLS ID: #596175
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