420 Merkel Dr, Greer, SC 29651
4 beds · 3 baths · sqft
You've found it. This home was given every available upgrade from the builder, and both previous owners have substantially improved on this already magnificent home! The meticulous landscaping and stone veneer are ready to impress you, before you even step through the front door. The oversized foyer takes you past the first bedroom to the formal dining room, with coffered ceilings and a beautiful chandelier! The kitchen is fit for a chef with double ovens, large cabinets, gas stove, a custom island and granite all the way around. Past the kitchen is the open family room, bathed in plenty of natural light! Not to mention gas fireplace encased in stone. Upstairs you will find a loft space big enough to be another family room! Here is where you will also find the remaining large bedrooms, along with the master. Over sized with a double vanity bathroom, large tile shower, and a walk-in closet the size of a small bedroom, you will have more space than you know what to do with! The backyard completes the home with plenty of space on a level lot, with a covered back patio. After the original owners bought the home brand new in 2021, they spent over $80,000 in upgrades before selling it to the current owners. This home has everything you need, and so much more.
Source: GREENVILLESC #1540015
Financials
Source: GREENVILLESC #1540015
Source: Public records
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%. 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.
Other resourcesWhat 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.