417 Embassy Dr, Summerville, SC 29483
2 beds · 2 baths · sqft sqft
Beautifully redone 1952 single-story cottage on over 1 acre with a 1 BR/1 bath apartment over a detached garage, no HOA, and just minutes from Downtown Summerville. Step into the perfect blend of classic charm and modern convenience at 417 Embassy Drive. This beautifully remodeled cottage offers a peaceful escape with the freedom of no HOA, all while being a short drive from the heart of Summerville. From the inviting front porch to the sun-filled backyard deck, this property is designed to embrace the beauty of the Lowcountry lifestyle. The main house, originally a 3-bedroom cottage, was transformed into a spacious 2-bedroom, 2-bath home in 2010. Inside, you'll find hardwood floors throughout and an open, airy family room that spills effortlessly onto the porch through French doors.The updated eat-in kitchen is a chef's delight, featuring granite countertops, stainless steel appliances, and plenty of space for gathering. Just beyond the main home, a detached two-car garage hosts a fully independent 1-bedroom, 1-bath apartmenta fantastic space for guests, in-laws, or a potential income-generating rental. The apartment boasts its own family room, full kitchen, and laundry, accessible by an exterior metal staircase. Outdoors, the landscaped grounds are a gardener's dream. Native Lowcountry plants like azaleas, camelias, and crepe myrtles provide a tapestry of colors and fragrances year-round. A wide-open, grass-covered space offers endless possibilities, from a garden expansion to room for a pool. And with no HOA, the freedom to create your own ideal oasis is only limited by your imagination!
Source: CTAR #24026565
Interest rate and monthly payment estimated based on public records.
Source: CTAR #24026565
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step. Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #24026565
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.