8 Elm Ct, Lexington, SC 29072
4 beds · 3 baths · sqft sqft
Recently updated 4br/2.5ba brick home with workshop in the heart of Lexington with no HOA! New roof on home and workshop 2024, New HVAC and furnace, LVP, glazing in bathrooms, granite countertops, and refinished hardwood floors! Covered front porch with room for sitting leads into a foyer with original hardwood floors that have been sanded and refinished. formal living room to the left with room for a dining area leads around to kitchen complete with new LVP flooring and granite countertops. Second living area has wood burning fire place with brick surround, and new LVP flooring. Large room off kitchen recently refinished and can be used as office or 4th bedroom, and has half bath attached. Hallway on right side of house has spacious full bath that serves two adjacent bedrooms with refinished hardwood floors and granite vanity top. The Master br has private bathroom with walk in shower with newly glazed tile surround and granite vanity. A patio off the kitchen leads to a covered carport and 11x21 shop with power. The right side of the yard is fenced in and a perfect spot for pets or enjoying the outdoors. All of this just minutes from downtown Lexington, shopping/dining, and zoned for award winning Lexington 1 schools! Come and see why this home would be perfect for you!
Source: COLUMBIASC #595488
Interest rate and monthly payment estimated based on public records.
Source: COLUMBIASC #595488
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step. Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #595488