308 Spruce Glen Rd, Lexington, SC 29072
4 beds · 3 baths · 2,280 sqft
Welcome to this charming brick home in the sought-after Hope Ferry Plantation! This beautifully designed residence features an inviting open floor plan with many windows that bring in a lot of natural light. The spacious kitchen with granite counter tops, a large island and all brand-new appliances, it is perfect for entertaining and everyday living.The primary suite is on the main level, complete with his and her closets and a luxurious en-suite bath boasting a freestanding clawfoot tub for a spa-like retreat. The other bedrooms including the FROG as the 4th bedroom are upstairs, along with a full bath.Enjoy the outdoors year-round with an expansive deck and screened porch, ideal for relaxing or hosting guests. The side-entry garage provides both functionality and curb appeal,while the dedicated laundry room on the main level adds to the home's convenience.With freshly painted walls, this home feels bright, welcoming, and move-in ready. The neighborhood has a community pool and is in a great location in Lexington. Minutes from I-20, Lake Murray, Restaurants and shopping.This home is zoned for award winning for schools like Midway Elementary, Lakeside Middle, and River Bluff High School.Enjoy the convenience and beauty of this home! Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.
Source: COLUMBIASC #602954
Financials
Source: COLUMBIASC #602954
Source: Public records
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.
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