4940 Lambs Rd, North Charleston, SC 29418
5 beds · 4 baths · sqft
Deep Water with 5-6 bedrooms, 3 full baths and 1 half bath, including ADU! Welcome to this rare opportunity to own a gorgeous deep water generational home overlooking the Ashley River and across from beautiful and pristine Magnolia Plantation! Take in the beautiful sunsets each day or take the boat out from your own private dock. With a separate full apartment/ mother in law suite overlooking the Ashley River boasting a family room, full kitchen, master bedroom and bath, the possibilities are endless. This apartment can function as living quarters for another family member or can also be rented as an ADU.With the ADU included, the total square footage of this property is 4,346 Square feet!The house was completely remodeled in 2015 including plumbing and electrical, roof windows,decking, siding, Rhino Shield exterior coating and so much more, this home turnkey. An extensive list of renovations will gladly be provided upon request. As one enters, the quality of this home is self-evident. The beautiful engineered wood flooring combines with the gorgeous trimwork to make this home comfortable and inviting. A large living room is the perfect welcome and is graced with wood flooring and recessed lighting as well as a large custom brick fireplace with mantle. The eat-in kitchen has been masterfully remodeled and boasts granite countertops and stunning beadboard ceiling with custom trim work and crown molding. Boasting a custom tile backsplash in addition to the shaker style cabinetry and stainless steel appliances, this wonderful kitchen is a must see. There is also a dining room area to the left of the entry foyer, allowing plenty of room for a dining table. The large and private family room is situated on the back of the home and is full of windows, encompassing all of the beauty the Ashley River has to offer. Graced with tile flooring and a beadboard ceiling, this gorgeous room is truly one of a kind. The sliding glass doors give way to an abundance of Trex decking with cable railings overlooking the river and Magnolia Plantation. The private owner's retreat is located on the back of the home and takes in all of the beautiful views of the Ashley River. Open the sliding glass doors leading to the back deck to bring in the river breezes. The master bath is very well-appointed with custom shaker style cabinetry with granite countertops, tile flooring and a large walk-in tiled shower. There are two guest bedrooms on the main level as well which share a hall bath graced with a tub with tile surround and vanity with undermount sink. Upstairs, one will find a large room overlooking the Ashley River currently used as an art studio. This room would also function well as a media room or 5th bedroom. Across the hall is the fourth guest bedroom boasting wood engineered flooring. Both upstairs have access to a half bath which can easily be converted into a full bath due to an open area behind the wall. Underneath the first level and adjacent to the basement is the full apartment/mother in law suite, adding another 880 square feet! This amazing space boasts a full eat-in kitchen with granite countertops, stainless appliances and custom range hood. This space also boasts its own family room, private bedroom and gorgeous bath graced with tile flooring and a beautiful very large tiled shower with half inch thick glass and a custom sliding door. The decking across the back of the home is the perfect place to entertain or to unwind at the end of the day watching the beautiful sunsets. There is plenty of room in the backyard for a pool or courtyard. This home comes complete with a full home generator! New Roof installed in 2020. A private, deep water dock with floater provides boat access to the Ashley River, Charleston Harbor, the beaches and more! This gorgeous property offers the perfect opportunity to own a well cared-for home in a stunning location with deep water access!
Source: CTAR #24025924
Interest rate and monthly payment estimated based on public records.
Source: CTAR #24025924
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.
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.
MLS ID: #24025924
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