1516 Blaze Ln, Charleston, SC 29412
2 beds · 2 baths · 1,086 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Prime James Island Location - Minutes to Folly Beach and Downtown Charleston, this 2bd/2ba townhome in Meridian Place offers 1,086 sq ft of easy, single-level living. Enjoy vaulted ceilings in the living room and primary bedroom, bamboo flooring, and a cozy gas fireplace--all filled with natural light. The open kitchen flows seamlessly into the dining and living areas for effortless living and entertaining. Both bedrooms feature private en-suite baths. The primary includes a walk-in closet, double vanity, garden tub, and separate shower. A new oven adds value in the kitchen. The fully fenced in backyard offers a patio, storage shed, and gate to a scenic pond view. The driveway accommodates two vehicles. Community amenities include tennis courts,a park, walking trails, ponds, and HOA-maintained landscaping. With quick access to shopping, dining, and James Island County Park, this home blends comfort, location, and great investment potential.
Source: CTAR #25010622
All values shown are estimated costs / mo.
Source: Public records
Source: CTAR #25010622
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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.
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 “Save search” 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.
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 620, 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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.