270 Old Gate Rd
Lexington, SC 29073
3 beds · 3 baths · -- sqft
$375,000
Get prequalifiedAbout this home
Welcome to 270 Old Gate Road, a stunning log cabin retreat nestled on just over 3 acres of serene landscape. This picturesque home combines rustic charm with modern conveniences, creating the perfect escape from the hustle and bustle of everyday life. The expansive front porch is the perfect spot for morning coffee and evening sunsets. The two story great room greets you with a warm glow of the natural wood interior, soaring ceilings with gorgeous beams, and an open floor plan that flows seamlessly between the living spaces. The kitchen offers plenty of counter space and cabinetry, blending modern functionality with the cabin's rustic aesthetic. There are two primary suites on each side of the house, both featuring walk in closets, ensuite bathrooms, and access to the multiple decks and porches around the home. The third bedroom is also on the main level while a loft area that would make a great office or playroom awaits you at the top of the stairs. Outside, the expansive property invites endless opportunities for outdoor recreation, gardening, or simply enjoying the peaceful surroundings. The two tiered deck overlooks the pool, grilling area with stone counters, and multiple gardening beds throughout the fenced in area. With over 3 acres, there's plenty of room for animals or future expansion, making it a versatile space for various needs. Located just minutes from I-20 and downtown Lexington, this property offers both privacy and convenience. Zoned for Gilbert Schools in sought after Lexington ONE. Don't miss your chance to own this unique log cabin retreat!
Source: COLUMBIASC #592789
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FAQs
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.