1475 Water Edge Dr, Charleston, SC 29492
3 beds · 2 baths · sqft sqft
Awesome opportunity for today's buyer- get this move in ready 3 bedroom ranch in the popular Peninsula community with an ASSUMABLE VA LOAN at 2.5% ! BRAND NEW ROOF was installed November 2024. This one level home sits on a corner lot in the back of the community with very little drive by activity. There are pond views as well! With a two car side loading garage, this home has great curb appeal. When you step inside you will be impressed with the light, bright, airy feeling! The kitchen overlooks a large family room with numerous large windows and a gas burning fireplace. This eat in kitchen has newer appliances, a pantry, and abundant storage. Upon entry there is a home office to the right. This could be a formal dining area, playroom, or additional living space if desired. Offeringa split plan, privacy abounds with the primary suite located on the rear of the home overlooking the large back yard. Vaulted ceilings and two closets are featured in the primary, which has a dual sink vanity in the bath. Bedrooms two and three are ample in size and share a second full bath. In addition to the brand new roof, other recent improvements include LVP flooring throughout all living spaces, newer carpet in bedrooms, a newer water heater, and interior was painted. With a two car garage and long driveway, parking multiple vehicles is a breeze. The Peninsula is a vibrant community with amenities including a swimming pool and playground. In this community you will find sidewalk lined streets perfect for walking the dogs or getting in your steps for the day! This is a neighborhood where students are able to walk, bike or take a golf cart ride to school. It is conveniently located off Clements Ferry Road where numerous stores, businesses and restaurants are located. Rapid development is occurring with additional amenities opening soon. Residents enjoy easy access to Mt. Pleasant and Daniel Island, with proximity to Hwy. 526 and Rt. 41 making it easy to get to the beach, airport, Historic Downtown Charleston and more. This is a wonderful chance to make this home your own and start enjoying the many benefits offered in this growing community!
Source: CTAR #24028999
Interest rate and monthly payment estimated based on public records.
Source: CTAR #24028999
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: #24028999
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.