709 Formby Dr, Columbia, SC 29223
5 beds · 3 baths · 3,974 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Welcome to your family's dream home in the gated and sought-after Spring Valley community! This spacious 5-bedroom, 3-bathroom residence has everything you can imagine starting with comfort, convenience, and ample space for everyone. The primary suite on the main level provides privacy, while the remaining bedrooms allows flexibility for family, guests, or home offices. The heart of this home is the chef's kitchen, featuring the stunning Brazilian granite countertops, a farmhouse sink, top-of-the-line appliances, lots of natural light from the bay window, and easy access to the peaceful sunroom. This space is perfect for relaxation and entertaining. Spanning nearly an acre (0.71 acres), this property offers endless possibilities for outdoor enjoyment. The remarkable 2,100 sqft shed, with 720 sqft of climate-controlled space, presents an extraordinary opportunity for a workshop, hobby studio, or additional storage. Imagine the possibilities! Enjoy the peace of mind that comes with living in a secure, gated community, complete with access to the county club amazing perks of golfing, pooling, dining and tennis. This home features recent upgrades, including new windows with a transferable lifetime warranty and a well maintained HVAC system, ensure year-round comfort and efficiency. Contact me today to view this lovely property!! Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.
Source: COLUMBIASC #604381
Source: COLUMBIASC #604381
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.
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.
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 620, 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 and Equal Opportunity Act.