621 Sea Doo Dr, Chapin, SC 29036
3 beds · 2 baths · 1,879 sqft
Located on a corner lot in Chapin's Eagles Rest at Lake Murray neighborhood, Welcome to 621 Sea Doo Drive. This one level floor plan features 3 bedrooms, 2 full baths and brand new carpet in the bedrooms. Upon entering, you will notice the high ceilings, abundance of natural light and the open floor plan. The dining area overlooks the family room with a fireplace and the kitchen. The kitchen has a huge island, stainless steel appliances including gas range, pantry and eat-in area. The primary bedroom is tucked away from the other bedrooms off of the family room and features a private bath with dual vanities, tiled shower and a walk in closet. Bedrooms 2 and 3 are located towards the front of the home and share the full hall bath. Outside, you will find a screened in porch with patio area overlooking the fenced in yard. Eagles Rest neighborhood includes pool, playground, sidewalks and several green areas. Zoned for Chapin Schools including Lake Murray Elementary and Chapin Middle & High Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.
Source: COLUMBIASC #601379
Financials
Source: Public records
Source: COLUMBIASC #601379
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.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.