261 Melann Pass, Lexington, SC 29073
3 beds · 3 baths · 1,980 sqft
**Charming 3+ Bedroom Home in Cunningham Park ready for your personal touch!** Welcome to this beautiful 3-bedroom, 2.5-bath home in the sought-after Cunningham Park neighborhood of Lexington, SC! Nestled in a quiet, well-maintained community, this home offers the perfect blend of comfort and convenience. Inside, you'll find a spacious and inviting floor plan, ideal for both relaxing and entertaining. The sunroom provides a bright and airy space to enjoy your morning coffee or unwind after a long day. The FROG, complete with its own half bath, is the perfect teen suite, home office, or bonus hangout space! The primary suite features two walk-in closets and a private bath with separate shower, while the additional bedrooms provide ample space for family or guests. Located in the highly desirable Lexington 1 School District, this home is zoned for Oak Grove elementary, Meadow Glenn Middle, and River Bluff High School, making it an excellent choice for families. Enjoy easy access to shopping, dining, and major highways while still experiencing the tranquility of this lovely neighborhood. Don’t miss this incredible opportunity—schedule your showing today and imagine the possibilities! Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.
Source: COLUMBIASC #605005
Source: COLUMBIASC #605005
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%. 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.
Other resourcesWhat 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.