916 Chester St, Columbia, SC 29201
3 beds · 2 baths · sqft sqft
Own a piece of history! Built in 1910, this home is on the National Registry of Historic Places and packs all the classic charm like original hardwood floors and beautiful glass door knobs with modern upgrades! 3 MASSIVE bedrooms plus an extra room that makes a great office or nursery. Both bathrooms have been updated with the large upstairs bathroom featuring a double vanity and jetted jacuzzi bathtub. A large walk-in closet upstairs, an attic, plus under the stairs storage provide ample storage space. The beautiful bay windows allow sunlight into the home providing great natural light. The owners installed granite countertops, stainless steel appliances, new roof in 2016 and air units replaced. (One in 2016 and the other in 2022) A low maintenance, fenced in brick back courtyard is great for grilling and entertaining. The home comes with a transferrable termite bond and 1 year home warranty. Unique to the neighborhood, this home has a 2 space parking pad along with the parking on the street. Enjoy downtown living? This home is close to all that downtown Columbia has to display. In highly sought after Elmwood Park, this home PRICED UNDER MARKET VALUE wont be on the market long! This home qualifies for the Richland County Bailey Bill which allows you to make more renovations and keep the pre-rehab tax estimate for 20 years!! Huge Savings!!
Source: COLUMBIASC #584219
Interest rate and monthly payment estimated based on public records.
Source: COLUMBIASC #584219
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.
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.
MLS ID: #584219
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.