506 Elwood Dr
Duncan, SC 29334
4 beds · - baths · -- sqft
$444,900
Get prequalifiedAbout this home
506 Elwood Drive is a stunning 4 bedroom, 3 bath home nestled in Brockman Farms. This 3000+ square foot home provides plenty of space for your family's needs! The open floor plan with a great room, dining room and kitchen, is the perfect setting for game nights, entertaining friends and family or a quiet movie night in front of the fire. There is more fun to be had in the large, fenced backyard where cooking out is a breeze on the covered patio with easy access to the kitchen. The kitchen is a chef's dream with stainless steel appliances, granite countertops and a large island that provides for a lot of workspaces. There is storage galore between it, the Butler's Pantry and huge walk in Pantry. A guest bedroom (or office) is also on the main level along with a full bath. Upstairs, a spacious flex room is ready for action! Media room, playroom, extra workspace; the possibilities are endless! At the end of the day, retreat to the lovely owner's suite with sitting area and impressive bath. The suite's walk-in closet is sure to wow you! Two more generous sized bedrooms and bath along with a large laundry room completes the upstairs. This 2-year-old home is better than new with mature plantings, blinds, extra parking pad and epoxy garage floor already in place as well as an additional 200 square feet of storage above! Enjoy a dip in the neighborhood pool which is just a short walk across the street! This Duncan home provides easy access to dining, shopping, top-rated schools, Highway 85 and Reidville's future Town Center. Don't miss your chance to make this beautiful home your own!!
Source: GREENVILLESC #1531800
Neighborhood
FAQs
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
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