WELCOME TO THIS NEWLY RENOVATED SPLIT LEVEL ON-TREND HOME IN AN EXTREMELY FRIENDLY NEIGHBORHOOD WITH NO HOA!!! This home is situated within a community where the neighbor came up to me and introduced himself and said that "they are excited to welcome the new family". What more can you ask for! The present family has painstakingly renovated this home from scratch since the day they bought it. This 4-bed/3-bath home has been painted with trendingg colors, new floors, new peek-thru window and 3/4 tall walls between the kitchen and the Great Room making it the perfect open floor concept with a little bit of privacy for the cooking items when entertaining. The Great Room walls have been donned with shiplap. The Primary bedroom has a beautiful new engineered wood flooring, and barn doors that lead to the newly renovated, tiled walk-in shower, his and hers sinks and a special area for shelving or a beautiful piece of furniture for extra storage. This split bedroom floor plan is perfect to allow the kiddos to play while you are trying to catch a little extra shut-eye on a weekend morning. And, one of the rooms even has a bed area on stilts so that there is plenty of room for play or a desk. You will love that each of these bedrooms have 2 closets also. The 4th bedroom is big and spacious and private with its own bath just across the hall from the laundry room. You will also find the door to the very roomy garage with extra shelving. Gwinnett schools are fabulously ranked in this area. Ideally located, this home offers quick access to major routes-less than 7minutes to I-985 and approximately 12-15 minutes to GA-400. You're also just 10 minutes from the mall of Georgia.
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
