1 of 20
$299,900

159 Flinchum Pl, Lexington, SC 29073

4 beds · 3 baths · sqft sqft

Nestled in the peaceful Cobbs Hill neighborhood, this home has both style and comfort! Step inside to discover a host of modern upgrades, including new flooring throughout, contemporary tile backsplashes, and sleek stainless steel appliances in the kitchen. Fresh light fixtures, new garage doors, and stylish faucets and finishes add to the allure, making this home truly move-in ready. The main floor features an inviting layout with common living spaces that flow effortlessly into the kitchen, perfect for entertaining. A separate laundry room adds to the convenience. Upstairs, the home transforms into a private retreat with all bedrooms located on the second floor. The spacious primary bedroom boasts plush new carpeting, a large walk-in closet, and a luxurious en-suite bathroom equipped with a dual vanity, garden tub, and separate shower. Three additional guest bedrooms, also with new carpets, provide ample space for all. The property also includes a loft or media area, ideal for relaxation or entertainment. Outside, the privacy of a fully fenced backyard invites you to enjoy serene afternoons or lively gatherings. Zoned for the highly acclaimed Lexington One schools. This is more than just a place to live—it's a canvas for your lifestyle. Don't miss the opportunity to make it yours!

Interest rate 3
4.75%
With Roam
6.5%
The seller’s mortgage rate at the time the loan was originated.
Monthly payment 3
$865
With Roam
$1,017
Reduce your monthly payments by $151 when you assume this mortgage.
You also save $42,565 in total interest paid.
$153,280
Edit

You may be able to put down less than the total down payment amount of $153,280 and have the rest of the funds financed with a 2nd mortgage from a lender. 4

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.
45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.
Location
Details
Home
Lot size
0.26 acres
Year built
2007
Type
Single Family Residence

Source: COLUMBIASC #592769

Loan
Remaining term
23 years, 5 months
Rate
4.75%
Monthly P&I
$865
Remaining loan balance
$146,619

Source: Public records

How it works

Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.

Tour

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.

Offer

Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.

Close

Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.

Who can qualify

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.

Frequently asked questions

What is Roam?

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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?

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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?

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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?

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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?

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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.

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Resources
Last updated: Oct 22, 2024 11:00 pm
Listing agent: Karen Yip
Listing provided courtesy of: Yip Premier Real Estate LLC
Details provided by COLUMBIASC and may not match the public record.
MLS ID: #592769
The information being provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Consolidated MLS®. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Copyright, Consolidated MLS®
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 45 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
Interest rate 3
4.75%
With Roam
6.5%
The seller’s mortgage rate at the time the loan was originated.
Monthly payment 3
$865
With Roam
$1,017
Reduce your monthly payments by $151 when you assume this mortgage.
You also save $42,565 in total interest paid.
$153,280
Edit

You may be able to put down less than the total down payment amount of $153,280 and have the rest of the funds financed with a 2nd mortgage from a lender. 4

Interest rate and monthly payment estimated based on public records.

$865/mo
View details