Located in Brian's Brook, a small community of only 25 lots with ACREAGE homesites and NO HOA. This home features 5 bedrooms/ 3.5 baths, 4 sides BRICK, on 1.5 ACRES with 172 feet of creek frontage on the Cotton Indian Creek. There's plenty of room for your multigenerational family with over 4200 HEATED square feet. The master bedroom is on the main level and has a HUGE walk-in closet, 3 additional bedrooms upstairs and a 5th bedroom in the FINISHED BASEMENT. Additional highlights include a GRAND 2-story foyer entrance with IRON handrail staircase, HARDWOOD flooring in the foyer, dining room, kitchen and keeping room, open kitchen with SOLID SURFACE countertops, TILE backsplash and STAINLESS appliances, breakfast area with bay window, spacious pantry, vaulted keeping room with stone fireplace, large 2-story family room with stone fireplace, separate dining room with COFFERED ceiling and CUSTOM trim. The master bath has been RENOVATED with a CUSTOM double vanity, TILE shower, TILE floor, SOAKING tub, LED mirror, HEATED towel rack and DIGITAL shower temperature setting. The BASEMENT also features a MEDIA room, wet bar, full bath and XTRA large unfinished storage room/workshop area with garage door plus an additional storage room/storm shelter. The exterior has a side entry garage, covered front porch, back deck with COMPOSITE decking that has a great view of the creek, and covered screened porch under the deck that comes with a HOT TUB! There's also a cleared walking path to the creek with a 2-story covered tree-deck overlooking the creek with a porch swing underneath, plus a firepit area. Great location only 7 miles to Downtown McDonough. Contact your Realtor to schedule your private showing today.
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.
