2053 Edwards Lake Rd, Greer, SC 29651
7 beds · 6 baths · 2,760 sqft
Get a free consultation call with an expert in the mortgage assumption process.
A RARE find--four homes on one property! Situated on a spacious 2.1-acre lot, this unique property provides endless possibilities for both investors and homeowners. The first home is a charming single-family residence with 2 bedrooms, 1.5 baths, an updated kitchen and bathrooms, a fenced-in yard, 2-car carport, backyard shed, and a convenient circle driveway. It features its own separate septic system and single-level living for ease of access. The second home is a double-wide, currently being used as a business. There is a separate address at 2051 Edwards Lake Rd. This home has 3 bedrooms, 2 baths, an underpinning foundation, a fenced-in yard, 2-car carport, and a separate septic system. The third unit is a single-wide with 1 bedroom and 1 bath, currently rented month-to-month to a long-term tenant. This unit also includes a gravel parking pad and single-story living. The fourth home is a 1-bedroom, 1-bath "Tiny Home" that has previously rented for $1,000/month. It shares a septic system with the single-wide. There’s an additional septic and water hookup available, adding potential for further expansion. The expansive 2.1-acre lot offers even more flexibility, with the possibility of subdividing if desired. Live in one home and rent the others, or maximize your investment by renting all units or potentially adding to the property. This is a rare find, offering income-generating potential and space for future development—imagine the possibilities!
Source: GREENVILLESC #1552732
Source: GREENVILLESC #1552732
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.