409 Madison Creek Ct, Lyman, SC 29365
3 beds · 3 baths · sqft
Located in Lyman’s Madison Creek communities, this beautiful 2-story Charleston Style home offers 2,671 sq. ft. of thoughtfully designed space, including 3 bedrooms, 2.5 bathrooms, and a 2-car garage. Perfectly designed for comfort and style, this home greets you in with a charming porch, balcony, deck, and a lush, fully-irrigated in-ground yard. As you enter, the warm wood floors welcomes you, leading into an open-concept kitchen-living room featuring soaring 9ft ceilings and a cozy gas log fireplace. The mix of carpet and wood floors creates a warm and inviting atmosphere, while the trey ceiling adds an elegant touch. The kitchen, just off the living room, is a chef’s dream with sleek laminate countertops and stainless steel appliances, including a cooktop electric, dishwasher, disposal, double-oven, refrigerator, microwave built-in, and range hood. Enjoy the convenience too of a walk-in laundry room on the main level. The spacious Owner’s suite is located on the main floor and offers a private retreat, complete with a luxurious bath featuring a double vanity, separate shower, garden tub, and a large walk-in closet. Upstairs, two roomy bedrooms await, each with large windows that flood the space with light. The spacious extra room is great space for game night, just relaxing or turn it into another bedroom! The attic and garage provide plenty of additional storage space to keep your home organized. Step outside to the fenced-in backyard oasis, perfect for outdoor entertainment with a large deck and plenty of space for activities. The 2 story craftsman paradise awaits! Great space for woodworking, storage or an extra office you will have plenty of room to call it your home away from home! The HOA fee covers common areas and street lights, ensuring a well-maintained community. All the space, features, and amenities you’ve been looking for are all here! Don’t wait, call today to book your showing!
Source: GREENVILLESC #1553092
Financials
Source: Public records
Source: GREENVILLESC #1553092
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.