490 Rowley Ln, Summerville, SC 29486
4 beds · 4 baths · 2,757 sqft
Get a free consultation call with an expert in the mortgage assumption process.
ASSUMABLE LOAN 2.99%Nestled in the highly sought-after Lochton at Cane Bay, this exquisite 4-bedroom, 3.5-bathroom home offers the perfect blend of style, comfort, and tranquility. Situated on a beautiful pond lot, this property is designed to impress with its striking curb appeal, featuring elegant brick pillars and a spacious front porch that invites you inside. Step through the front door into a gracious dining room that seamlessly transitions into an open-concept kitchen and living area, ideal for both entertaining and everyday living. This home is brimming with high-end upgrades, including luxury vinyl plank flooring throughout, custom ceilings, and accent walls that add character and warmth. The kitchen is a dream, featuring white cabinetry, granite countertops, a sophisticated white tile backsplash, stainless steel appliances, and a gas range. A sunroom extends from the kitchen, providing additional entertaining space while offering breathtaking pond views and abundant natural light. The main floor also boasts a spacious living room with a cozy gas fireplace and a private primary suite. The primary ensuite is a serene retreat, complete with a large tiled shower with glass enclosure, dual vanities with granite countertops, a walk-in closet, and elegant tile flooring ur own personal haven away from the guest bedrooms upstairs. Ascend the wood-tread staircase with wrought iron spindles to find a generous loft, perfect for a secondary living space or playroom. Three well-appointed bedrooms and two additional guest bathrooms provide plenty of room for family and visitors. Even the laundry room has been upgraded, making chores a little more enjoyable! Additional standout features include irrigation system for a lush, green lawn, under-cabinet lighting for a stylish and functional kitchen, upgraded light fixtures throughout & so much more! Beyond your doorstep, Lochton at Cane Bay offers an incredible resort-style lifestyle with access to wooded walking and jogging trails, top-rated schools, and a vibrant community. Enjoy the convenience of nearby shopping, dining, Publix, a gas station, and the Cane Bay YMCA. This move-in ready home has been meticulously maintained and is loaded with modern amenities. Don't miss your chance to own this remarkable propertyschedule your showing today!
Source: CTAR #25005146
All values shown are estimated costs / mo.
Source: Public records
Source: CTAR #25005146
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.