Located in an established neighborhood, this well-maintained 4-bedroom, 3 full bath ranch offers space, functionality, and rare features that set it apart. Its LARGE 36x24 DETACHED WORKSHOP is definitely a standout feature. Inside the home, you'll find a comfortable and inviting layout featuring two En-Suite bedrooms, multiple skylights and windows that bring in abundant natural light, and beautiful hardwood floors throughout the main living areas. The home has been thoughtfully maintained and offers a warm, livable feel with tons of character from the moment you walk in. The kitchen and living spaces flow easily for everyday living and entertaining, while the spacious back deck provides the perfect setting for gatherings, grilling, or simply relaxing outdoors. Step outside to a large, fully fenced backyard with plenty of room for pets, play, or gardening. Parking is plentiful with an attached garage plus a semi-circular driveway for additional space for guests or multiple vehicles. The RARE oversized 36x24 workshop, complete with a separate meter, makes this home truly unique and very desirable. Perfect for the hobbyist, collector of toys, storage for RV's, Boat Trailers, the options are endless. A big bonus is that it comes with its own separate power meter. There is also a large, poured cement pad in front of the workshop for additional parking. Workshops are hard to find, and this one is VERY LARGE. It is stick built with a high ceiling with rafters for even more additional storage. Major updates include new siding, soffits, fascia, and gutters completed in 2022. The roof is approximately 8 years old, offering added peace of mind. Although Forest Hills Subdivision is not an HOA neighborhood, it does offer an option to pay to access their pool amenities. Conveniently located near Gwinnett County Schools, shopping, entertainment, recreation areas, parks, the Lawrenceville Lawn and transportation arteries making this a highly desirable property. Just minutes from the Lawrenceville Lawn, a city park that currently encompasses an amphitheater for concerts, a playground, volleyball courts, and the HYRO Park for the dogs. This home is in a desirable location. You don't want to miss this opportunity.
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.
