703 Gleneagles Dr, Myrtle Beach, SC 29588
2 beds · 2 baths · 1,812 sqft
Come home to this 2-bedroom, 2-bath patio home that perfectly blends comfort and convenience. Endless potential! This home is ready for your personal touch and modern updates. Situated just minutes to Hwy 544 and Hwy 17 for convenience, it is also just 6 miles to the beautiful Surfside Pier. This property boasts an inviting layout filled with natural light, thanks to stunning skylights that brighten the living areas. There is newer LVP and tile throughout. The spacious living room leads to a Carolina room with a custom wood ceiling and sliding glass doors which extends into the courtyard, offering seamless indoor-outdoor living—perfect for relaxing or entertaining. Both bedrooms are generously sized, and the primary suite features an en-suite bath for added privacy. Enjoy the convenience of an in-unit washer and dryer, making laundry day a breeze. With its thoughtful design and modern touches, this home is ideal for a first home purchase, a second home or an investment opportunity.
Source: MYRTLEBEACH #2500469
Financials
Source: Public records
Source: MYRTLEBEACH #2500469
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.