4 Shadowrock Ct, Simpsonville, SC 29681
4 beds · 3 baths · sqft
Open House Sunday, April 6 from 2-4pm. Location and Layout! You’ve found the one you’ve been searching for! 4 Shadowrock Court is a 4 bed/2.5 bath home located in the sought after Woodruff Lake subdivision just minutes from Five Forks Simpsonville! Situated on a quiet cul de sac street this move in ready home features a private office behind French doors, an open concept layout, a large flex room and a fully fenced backyard! This popular layout ensures you never miss time with family and friends yet still have that much needed privacy that the second-floor bedrooms provide. The bright, two-story foyer welcomes you in and leads you through the arched opening to the main living space. The kitchen features granite countertops, pantry closet, a large peninsula area with seating, easy access to the more formal dining room and a large breakfast area that transitions easily into the main living area. Here you will find a gas log fireplace as well as ample room for your comfy furniture! There is easy access to the deck from this main living area as well! Off the kitchen is a half bath for guests as well as the walk in laundry room with direct access to the two-car garage. Upstairs there are three secondary bedrooms that share a hall bath and a huge flex space! Rounding out the second floor is the primary bedroom with trey ceiling and attached bath behind double doors. Here you will find dual sinks, garden tub, separate shower and large walk-in closet. The outside living space is ready for spring and summer with a big deck and plenty of space for children and pets to run and play! Woodruff Lake has an impressive amenity package including a pool, playground and tennis courts, active swim team and a neighborhood pond! Location and Layout. This is the one!!
Source: GREENVILLESC #1551619
Financials
Source: Public records
Source: GREENVILLESC #1551619
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.
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.
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