545 Long Reach Dr, Salem, SC 29676
3 beds · 2 baths · sqft
Location Is Everything! This interior-perched lot allows you to overlook lake lined estates and soak in magical sunset views of Lake Keowee. Seller has stated just a few of the many reasons she bought this home was because of serene relaxation, all the outdoor living spaces which gives you a chance to watch the beauty of diamond like glistening on the water, and at night topping off above in the sky. This most affordable home could be a stargazer's paradise. Easy access in this semi circle driveway, then just a few steps up to the retreat like front porch leads to the front door. Another option once you pull up, you may be tempted to sit in the swing right before the elevator door. You will see the covered areas with mulch beds that would be perfect to add an outdoor fountain. Now back to carrying groceries in, take advantage of this Champion 4x 6 chair lift elevator that goes straight up to the inside of the screened in porch. Exiting elevator to left shoulder is 35' x 21' aluminum floor deck which gives you the opportunity to entertain. Back to the front door into the open living room, the rock gas fire place shares the attention with the many windows showing off benefits of lake living. Combination dining room in the right back corner in front of a glass slider to the patio which makes it easy to get to your smoker or gas grill. You could add a few bar stools at kitchen area for a breakfast spot at the cook top counter space which sits in the left corner behind living room. Right down the hall is the shared full bath to your left, the third bedroom is just across the hall on the right, second bedroom at the end of the hall and the primary ensuite is the entire right back corner. It's plus sized offers space for a king bed with a sitting area, a skylight full bath with a shower, laundry closet, (seller is using basement laundry area), and a private slider door to the back patio. Basement level left of the swing is the garden room that has a hose bib and shelves for the green thumbs. Next is the workshop/laundry room which sits towards the back left corner. Center of basement area is the elevator box and to the right you will see a slider on the garage that is used for storage. Seller did get an estimate to convert to a mother in law suite. Outdoors you will appreciate the backyard's elevation past the patio, which gives you privacy and several time out spots. Grab some birdseed and you'll be in ornithophiles paradise. This part of Keowee Key is called "The Point" by neighbors because, the Chestnut Point Marina/Park is literally across the street which features: boat slips, shuffle board, kayak storage, water entry, waterside benches, gazebo, waterside picnic tables, grills and restrooms. Keowee Key is recognized as an elite and highly active community that offers something for everyone, including: 18 hole golf, two private marinas with fuel docks, watercraft storage, tennis, pickle ball, two outdoor pools, one Olympic heated indoor pool, dog park, two acre community garden, recycling capabilities, walking trails, state of the art fitness center, racquet ball, a casual dining bistro and dressier dining at the Clubhouse and to top this all off, a long list of social clubs. Keowee Key is within driving distance to Cashiers-Highlands, Atlanta and Greenville.
Source: GREENVILLESC #1551729
Financials
Source: GREENVILLESC #1551729
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.
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