1944 Woodland Rd, Charleston, SC 29414
4 beds · 2 baths · 1,639 sqft
Welcome to this spacious 4-bedroom, 2-bath home in the highly sought-after Pierpont neighborhood. With incredible potential, this property offers an exciting opportunity for buyers ready to invest in a home with great bones and endless possibilities!As you step inside, you'll be greeted by a bright and airy great room that combines the living, dining, and kitchen areas into one open, inviting space. Large windows allow natural light to flood the room, creating a warm and welcoming atmosphere that's perfect for both relaxing and entertaining.This home has been thoughtfully updated with a brand-new roof, gutters, and a newly installed HVAC system and transferable warranty,along with fresh flooring throughout, providing peace of mind and comfort for years to come. The kitchen is equipped with top-of-the-line stainless steel smart appliances, including a convection/air fryer range, sleek granite countertops, and a stylish backsplash. With ample counter and cabinet space, this kitchen makes meal preparation a breeze. The four spacious bedrooms offer plenty of room to unwind and personalize to your liking. While the home does require some work such as completing the closets and replacing the siding, the home is priced below market value, making it a smart investment for buyers who are ready to add value through a little sweat equity. Additional highlights include a fully encapsulated crawl space with a monitoring system and a one-year service contract (recently completed), offering enhanced durability and protection against moisture and humidity. There's also a transferable 25-year warranty on the crawl space. Step outside to discover the potential of your private backyard. A cozy patio area overlooks a small fenced-in section, while the expansive quarter-acre lot offers ample space for future expansion, landscaping, or outdoor projects. Located centrally to beaches, downtown Charleston, and plantations, this home is just 20 minutes from downtown and 28 minutes to Folly Beach. The neighborhood is also golf-cart friendly, making it a perfect spot for both convenience and leisure. With a little vision and effort, this home could be transformed into your dream property. Listed below market value for the necessary repairs, this is an incredible opportunity, don't miss your chance to make it your own! Use the preferred lender to buy this home and receive an incentive towards your closing costs!
Source: CTAR #25004016
Source: CTAR #25004016
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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.
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 “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.
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 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 of Equal Opportunity Act.