1 of 75
$640,000

2318 Starr Lake Dr NW, Acworth, GA 30101

5 beds · 5 baths · 4,204 sqft

Discover instant equity that could be worth the equivalent of paying up to 7yrs of P&I + up to $3500 lender credit with our preferred lender in this 5-Bedroom, 4.5-Bathroom Home in West Cobb! Welcome to your dream home, perfectly situated in the serene and friendly neighborhood of Starr Lake. Bursting with features and endless possibilities. Priced below appraisal for immediate equity! You'll be greeted by gleaming hardwood floors as you step inside, fresh neutral paint, and brand-new plush carpeting. The heart of the home is the beautifully updated kitchen, featuring new appliances, freshly painted cabinets, and a spacious island. The new double ovens and gas cooktop are a chef's dream, perfect for culinary adventures. Whether you're gathering with loved ones in the expansive kitchen & dining area or stepping out onto the deck, this home is designed for creating cherished memories. The deck offers the perfect setting for outdoor relaxation, overlooking a peaceful, private, low-maintenance, natural and wooded backyard that allows you to spend your time on more important things than mowing. Need a space to work from home? The main level includes an office with French doors and built-in bookcases, perfect for your next video meeting. Escape to the tranquil owner's suite, complete with a cozy sitting area, an expansive walk-in closet, and bath featuring a walk-in shower and jetted tub. The finished basement adds even more space, with an additional bedroom and bathroom, a versatile office space, and an entertainment area perfect for a man cave or a kids' play zone. Plus, there's a large storage room. With a roof and upstairs HVAC replaced in 2020, this home offers peace of mind and low maintenance living. Spend your weekends enjoying the abundant community amenities, including a stocked fishing pond, refreshing pool, tennis and pickleball courts, a clubhouse, and a scenic walking trail-all exclusive to Starr Lake residents. Conveniently located near Lake Allatoona, shopping, dining, local cafes, multiple parks, and top-rated schools, this home provides the perfect blend of comfort and convenience. With easy access to major highways and side roads for stress-free commuting, this move-in ready gem has it all. Don't miss the opportunity to make this your forever home. Schedule a private viewing today!

Estimated
Seller's interest rate
3.62%
7%
Estimated
Monthly payment
$1,437
$1,960
You may also save up to $143,249 in total interest paid.
Listing price
$640,000

Your cash down payment
$372,177
Seller’s estimated current equity is $372,177
To assume this mortgage you must cover the seller’s equity by using your cash or by combining your cash with a 2nd mortgage.
Estimated $1,437 monthly payment

Financed
$267,822
Assumed mortgage 3.62% • Seller's rate
$267,822
2nd mortgage 9.25% • No prepay penalty
$0

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.
Location
Details
Home
Lot size
0.424 acres
Year built
2003
Type
Single Family Residence

Source: GAMLS #10387747

Loan
Remaining term
22 years, 10 months
Rate
3.62%
Monthly P&I
$1,437
Remaining loan balance
$267,822

Source: Public records

How it works

Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.

Tour

Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.

Offer

Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.

Close

Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.

Who can qualify

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.

Frequently asked questions

What is Roam?

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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.

What is an assumable mortgage?

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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.

Why is an assumable mortgage valuable?

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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.

How can you find assumable mortgage listings?

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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 “Get Notified” 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.

How do I qualify for an assumable mortgage?

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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.

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Last updated: Dec 07, 2024 12:22 am
Listing agent: Campbell Haigh (770) 575-7339
Listing provided courtesy of:
Details provided by GAMLS and may not match the public record.
MLS ID: #10387747
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of GAMLS. All real estate listings are marked with the GAMLS Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Copyright © 2024 GAMLS. All rights reserved.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 30 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$1,437/mo
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