316 Bay Village Ln, Moncks Corner, SC 29461
3 beds · 3 baths · sqft sqft
Nestled on a .78-acre lot, this exquisite craftsman-style home, crafted by Hunter Quinn, offers ample space for relaxation amidst the serene surroundings of the neighborhood. Don't let the chance slip by to own nearly an acre of land just moments away from downtown Moncks Corner, Berkeley Elementary and High School, with easy access to historic downtown Charleston, only a 30-minute drive away.Upon arrival, you're greeted by the expansive driveway leading to the attached 2-car garage. Step inside via the covered front porch and enter the welcoming foyer, adorned with Luxury Vinyl Plank flooring that extends throughout the first floor, seamlessly connecting to the open-concept living area. The gourmet kitchen, boasting an oversized island, cherry cabinets for abundant storage, granite countertops, and stainless steel Kenmore Elite Appliances, is a dream for chefs of all levels. The spacious living area provides ample room for entertaining guests and effortlessly transitions to the backyard through the screened-in porch and onto the stone patio - ideal for hosting a Fourth of July barbecue! Beyond the fenced yard, the owner is extending the boundary to meet the edge of the plat, a project scheduled for completion before closing. Moving through the home and ascending the stairs, the luxury vinyl plank flooring continues into the loft area, perfect for a home office or children's playroom. Upstairs, all three bedrooms are located, with the owner's suite positioned at the front of the home. Featuring dual closets and an en-suite bathroom with a large shower and dual vanities, the owner's suite offers a tranquil retreat from daily life. The two additional bedrooms are generously sized and share a full bathroom, conveniently adjacent to the laundry room on the second floor.
Source: CTAR #24021953
Interest rate and monthly payment estimated based on public records.
Source: CTAR #24021953
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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 “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.
MLS ID: #24021953
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.