Welcome Home! This charming 3-bedroom, 2-bath ranch home nestled in the highly sought-after, gated community of Fairfield Plantation in Villa Rica, Georgia.This well-maintained single-story home, built in 1995, offers approximately 1,488 square feet of comfortable living space on a generous 0.36-acre lot. Perfect for first-time buyers, downsizers, or anyone seeking low-maintenance living with access to resort-style amenities, this home features a spacious primary suite with ensuite bathroom, two additional bedrooms, and a functional layout that maximizes natural light and flow.Step inside to discover an inviting living area ideal for relaxing or entertaining. The kitchen offers convenience for everyday meals, while the dining space provides a cozy spot for family gatherings. Enjoy peaceful views and the convenience of a 2-car garage.Fairfield Plantation is a truly unique, private gated community spanning over 2,400 acres of rolling hills, lush green spaces, and more than 330 acres of pristine lakes. This is not your typical subdivision - it's a true resort-style lifestyle community conveniently located just off I-20, yet worlds away from the hustle of the city.Residents enjoy an impressive array of amenities the whole family will love: Golf, 3 Private Lakes, Beach and Marina, Tennis, Nature Trails and more. Whether you're teeing off in the morning, boating on the lake in the afternoon, or ending the day with a beautiful sunset. Fairfield Plantation offers a true "live, play, relax" lifestyle unmatched in the area.This home provides the perfect blend of comfortable, one-level living and access to an incredible array of amenities. Don't miss your opportunity to call this peaceful, amenity-rich community 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.
