116 Lakeside Rd, Chapin, SC 29036
6 beds · 6 baths · sqft sqft
Experience lakefront living at its finest on Lake Murray in this exceptional 6BD, 5.5BA home spanning over 6000 sqft & nestled in a tranquil cove with 263 feet of shoreline, on a .78 acre lot. The circular driveway provides excellent parking for guests & leads up to the Southern-style front porch & entryway. This home has a 2.5 car side-entry garage plus a 3 car garage currently used as a workshop. Past the garages, you’ll follow the sidewalk down to the private dock to make lake life as easy as possible. The roof is less than 5 years old, brand new HVAC system for upstairs & lake-drawn irrigation system to help keep the landscaping in tip top condition year round at a low cost. The large kitchen overlooks the lake with granite tile countertops, plenty of cabinets & counter space, stainless steel appliances & a trash compactor. Additional highlights include an oversized double door pantry, eat-in kitchen area & breakfast bar. Travel through the living room with LVP floors into the sunroom & out the sliding glass doors onto the upstairs balcony that provides breathtaking views. Master bedroom overlooks the serene cove with a tray ceiling, his & hers closets, AND a walk-through closet (currently used as a home office) to the expansive laundry room full of cabinets, counters, & utility sink. Master bath features ceramic tile floors, whirlpool tub, & 2-person walk-in shower with dual shower heads. Head upstairs to find 2 bedrooms with private full size bathrooms as well as a flex space great for a craft/sewing/homeschool/play room. Down the spiral staircase located in the living room, you’ll find the finished basement complete with a bar, projector screen, bedroom, full bath, & exercise room with equipment included. The basement walks out onto the lower porch with ceramic tile flooring, Spanish style stucco archways, & electrical needed for a hot tub is already in place. 2.25% assumable VA home loan available. No HOA within 5 min of Chapin Elem, Middle, & High School. 5 min to downtown Chapin. 10 min to I26. This property offers a rare opportunity to own a waterfront retreat with unmatched amenities. envision yourself enjoying lakefront luxury living on Lake Murray.
Source: COLUMBIASC #588542
Interest rate and monthly payment estimated based on public records.
Source: COLUMBIASC #588542
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: #588542
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.