Don't miss this exciting opportunity to own in one of Ellijay's most desirable neighborhoods. Featuring 5 bedrooms and 3.5 baths, this beautifully updated home offers luxury living with exceptional indoor and outdoor spaces designed for both comfort and entertaining. The main level showcases all new wood flooring and tile throughout, creating a seamless blend of warmth and sophistication. The oversized living room is anchored by a cozy wood-burning fireplace, while the vaulted chef's kitchen features new tile flooring, granite countertops, Whirlpool appliances, gas cooktop, electric oven, vented hood, under-cabinet lighting, and a large stainless country sink. The adjoining breakfast area is surrounded by oversized windows that fill the space with natural light. The secondary bath on the main floor has also been completely updated with new tile, fixtures, lighting, and shower. The spacious primary suite serves as a private retreat with a tray ceiling, ceiling fan, oversized windows, and direct access to the Trex deck. The luxurious primary bath features heated tile floors, a large tiled walk-in shower, antique clawfoot soaking tub, double vanities, TV hookups, private water closet, and an oversized walk-in closet. A stunning vaulted sunroom showcases soaring 9-foot windows, three skylights, new tile flooring, and an electric wood-style fireplace, creating the perfect year-round gathering space with peaceful views of the surrounding landscape. Step outside onto the expansive 8' x 40' Trex deck, ideal for entertaining or relaxing in the mountain air. Downstairs, the 2,650 sq ft heated and cooled basement offers incredible flexibility with garage parking for up to four vehicles, two new automatic steel garage doors, workshop space, shelving, and extensive storage. A rustic antique barn door leads into a unique wine cellar/man cave complete with wood paneling, wine shelving, large screen TV, window, and electric fireplace. Outside, the property is surrounded by mature landscaping including treated hemlocks, rhododendrons, azaleas, daffodils, and even seasonal chanterelle mushrooms. Additional features include timed driveway entrance lighting and a welcoming rocking chair front porch accented with classic Roman columns. This exceptional property combines luxury finishes, functional living space, and timeless mountain charm in one remarkable home.
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.
