This lovely home offers great privacy within walking distance to downtown Senoia, welcome to 159 Hutchinson Lake Road. Situated on a lot that is tucked away from the hussle and bussle with over 2 acres of wooded privacy. Access to property allows for very minimal traffic. This well-maintained home offers the perfect blend of peaceful country living with NO HOA and convenient access to all that Senoia and Coweta County has to offer. Located just a short walk or golf car ride to downtown Senoia, you'll enjoy the charm of small-town living while remaining close to shopping, dining, schools, and still close to all major commuter routes including Peachtree City and I-85. This spacious and well built home features approximately 2700 square feet of living space with a desirable floor plan designed for comfortable everyday living and entertaining. The inviting family room is centered around a cozy fireplace, creating the perfect gathering space for family and friends. The home offers a master suite on the main level with 2 spacious bedrooms and a very large bonus room on the 2nd level. The bonus room could easily serve as a 4th bedroom, play room, offices, movie room or exercise room. There's also a ton of storage space in this home including clever and hidden storage areas. Lot's of wildlife in this quiet country setting. Situated on a fairly level 2.05-acre lot, the property offers plenty of room for outdoor enjoyment, gardening, recreation, or simply relaxing and taking in the peaceful surroundings. The expansive yard provides privacy and flexibility rarely found in today's market. Constructed with low-maintenance vinyl siding and featuring a fairly recent newly installed roof, this home combines comfort, low maintenance and practicality. Whether you're looking for room to spread out, a quiet retreat from the city, or a property with acreage in the highly desirable Senoia area, this home presents an exceptional opportunity. Enjoy the freedom of country living with the convenience of nearby amenities, all while being located in one of Coweta County's most sought-after communities. No blind or sight unseen offers. Offers will only be reviewed after the buyer, or their agent has physically toured the property. Proof of funds/ pre-approval required with submission.
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.
