321 Coatsley Dr, Lexington, SC 29072
5 beds · 3 baths · 2,558 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Fantastic opportunity for a five bedroom home with a pool! Sitting on one of the largest lots in the neighborhood, this home offers the perfect set up for summer living in Lexington! The main living area boasts high ceilings, engineered hardwood floors, and an open floor plan allowing tons of natural light to pour through the home. The kitchen includes granite countertops, stainless steel appliances, a recently customized pantry, and overlooks the living room complete with a gas fireplace. A guest suite is located on the main floor along with a full bathroom, perfect for guests or to be used as a home office, play room or more. Upstairs you'll find the spacious primary retreat with tray ceilings, as well as the spa like bathroom boasting an oversized tiled shower, double vanity, and large walk in closet with customized shelving. Three additional bedrooms, laundry, and a shared bath complete the upstairs. The backyard is a true oasis boasting a pool (complete with removable fencing for safety), playset, covered patio, and additional patio area to be used for seating, a firepit or more. This home is located in the highly sought after community, Kingsley Downes, and is zoned for award-winning Lex1 schools. It is within minutes of interstate access, the Saluda River, Lake Murray, and all of the shopping and dining in Lexington and Columbia. Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.
Source: COLUMBIASC #607233
All values shown are estimated costs / mo.
Source: Public records
Source: COLUMBIASC #607233
To qualify, you must meet the current FHA or VA 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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 of Equal Opportunity Act.