1304 NE Main St, Simpsonville, SC 29681
3 beds · - baths · sqft sqft
Nestled on 1304 NE Main Street, this property offers endless possibilities, free from HOA constraints, allowing you to envision your ideal space. With potential for rezoning amid ongoing development, the .80-acre plot presents an opportunity for growth and innovation. Additionally, the adjacent 1.46-acre property and the 3-acre plot across the street are also available for purchase, providing further potential for expansion. The 1970s-built structure combines nostalgia with modern updates, offering versatility for residential, commercial, or mixed-use purposes. Currently serving as a dual-purpose space, it provides a reliable source of income. Hardwood flooring and newer windows add character to the spacious living areas, including a large living room, dining room, and open kitchen. Three bedrooms and two bathrooms complete the layout. With sewer and public water services and convenient utility connections, this property is primed for transformation. Discover the charm and potential of 1304 NE Main Street, where classic meets contemporary for your vision of home or business endeavors in an evolving location ripe with promise.
Source: GREENVILLESC #1524159
Interest rate and monthly payment estimated based on public records.
Source: GREENVILLESC #1524159
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: #1524159