BACK ON THE MARKET AT NO FAULT OF THE SELLER! The previous Buyer's home did not sell, creating a 2nd opportunity for a new Buyer to make this home their own. Schedule your showing today, this one won't last! Charming and Stylish RENOVATED 4/2 ranch home, with 2-car garage which has been thoughtfully updated throughout, with upgrades such as; several accent walls, recent paint and LVT, counter tops, new light, fan, and plumbing fixtures. NEW carpet in main level bedrooms. NEW Whole-House Water Filtration System! NEW Tankless Water Heater! Enter from the foyer to the open living room with vaulted ceilings, you'll feel right at home. An open, yet cozy space with gas fireplace, built-in shelving, easy access to the entire house. Plenty of room for everyone! The kitchen features new granite countertops & tile backsplash stainless steel appliances, updated lighting, and even a pop-up/hide-away work space in the island for those smaller appliances. Breakfast area with plenty of space for your coffee bar! The dining room is nicely sized, located next to the kitchen and open to the living room for ease in entertaining. The Master Suite features a timeless accent wall, French doors, and the bathroom has double vanities, over-sized toilet room, soaking tub, and separate shower. Master and secondary bedrooms are located on the main level and all have NEW carpet. The freshly painted 4th bedroom, upstairs, could also be used as a home office, hobby room, or guest suite. The fenced backyard oasis is a sanctuary for the outdoor lover! Relax on your partially covered 10x40 patio featuring seating areas, a grilling hut, lights, fans, and curtains. Endless entertaining opportunities galore! Conveniently located in a quiet neighborhood, yet within very close proximity to Lake Lanier, and is easily accessible to nearby major roadways, retail shopping, schools, parks, and medical facilities! 3.9 miles to the Elementary and Middle Schools, 4.2 miles to the High School, 3 miles to "The Bowl at Sugar Hill", 4.9 miles to Buford Dam, 9 miles to Cumming via Buford Dam Rd.
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.
