253 N Gwinnett St, Buford, GA 30518
4 beds · 2 baths · 2,196 sqft sqft
Welcome to your virtually brand new home... a corner lot in the extremely sought after city of BUFORD and it's BUFORD city schools! This two-story partial brick & concrete siding home is perfect for your family with no HOA & is located within walking distance of the awesome city of BUFORD and its historic downtown. Everyone knows of the exclusivity that the city of BUFORD brings. Amazing schools, sports, recreation, shopping, dining, and so much more! Be sure not to miss the photos of just some of the city amenities. There's even a new high school stadium recently built that had a cost of about $62 million. The main-level of this home features an open-concept style living with a modern white kitchen, equipped with stainless steel appliances, a large, walk-in pantry with barn door. In fact, there are barn doors throughout the house, which adds a great farmhouse feel. This home built in 2019 has been meticulously cared for and is like new construction. There is a large, two car garage with lots of overhead storage built-in. Just off the kitchen outside is a perfect deck area to enjoy your morning coffee. As you ascend up the stairs to the bedrooms, there is a large landing area with access to all four bedrooms and convenient, laundry location for all. This house and its location has so much more to offer. This is a must see, especially for those who want to be in the BUFORD city schools. Our preferred lender is even willing to offer up to $4000 credit towards closing costs.
Source: GAMLS #10341379
You may be able to put down less than the total down payment amount of $136,744 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Interest rate and monthly payment estimated based on public records.
Source: GAMLS #10341379
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
What is Roam?
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?
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?
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step. Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #10341379
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.