132 Hickory Ridge Way, Summerville, SC 29483
5 beds · 4 baths · sqft sqft
Back on the market through no fault of the seller. Welcome to this 5 bedroom, 3 1/2 bath home on a large lot with tons of space. Downstairs it features a first-floor owner's suite, a formal dining room and eat-in kitchen with granite countertops stainless appliances and hardwood floors. The kitchen overlooks the family room, complete with a fireplace. Enjoy Lowcountry living at its best with an extra-large screened porch and double patio while overlooking your large, fully fenced backyard. Upstairs you will find 4 more bedrooms. all with new carpet just install, two full baths along with a huge bonus room and laundry room. All of this is located in the desirable Dorchester II school district. Conveniently located within walking distance of shopping and just a few miles froand just a few miles from Downtown Summerville.
Source: CTAR #24014701
Interest rate and monthly payment estimated based on public records.
Source: CTAR #24014701
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step. Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #24014701
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.