118 Avalon Rd, Summerville, SC 29483
3 beds · 2 baths · sqft
Welcome home for the Holidays! This 3 bedroom 2 bath single story home offers an open concept, beautiful curb appeal and is located in the much sought after DD2 Schools and only minutes from the historic downtown Summerville. Don't worry about the boxes you see in the house. This just means the sellers are ready to move on to their next adventure.From the moment you walk in the front door, you are welcomed by a large entryway, and the front bedroom to your right. Continue walking, you end up in the large living room with a beautiful fireplace. Think of all the cozy nights by the fire this winter. Off of the living room, you will find your garage entrance next to the large Laundry room, a 2nd bedroom and a full bathroom. Easy access for your family and your guests.Next you will walk through your large dining area as well as the entrance to the Owner's Suite with a large walk-in closest and personal on-suite which offers you a Garden tub, separate shower, double vanity and plenty of room to move around. Heading back towards the kitchen, you will find stainless steel appliances, new faucet, new garbage disposal, an island and room for a breakfast table. Want to get some fresh air? Head out back and sit in your screened in porch which offers you protection from the rain and bugs. The home backs up to a protected tree line that offers you privacy and peace of mind. Go ahead and take a walk on the nature trail behind your home and enjoy all that Fall has to offer. Not a fan of carpet? Sellers are offering a $1,000 credit for you to pick out your own flooring. With so much to offer, don't wait, come view the home and be moved in just in time to celebrate the holidays! Welcome Home.
Source: CTAR #24025996
Interest rate and monthly payment estimated based on public records.
Source: CTAR #24025996
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: #24025996
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.