Inspired by the Craftsman movement, this National Folk house was built at the turn of the century with unusual brick columns and is referred to as the Stovall-Griffin House by the local Historical Society. It has been occupied by a former Georgia Supreme Court Judge and other local professionals. The original gorgeous heart pine floors and fireplaces and mantles have been retained. However, many modern updates and changes make it a comfortable house for today's modern family. You'll find the living and dining rooms very comfortable gathering spaces. The updated kitchen has a massive amount of cabinets and counters. There is space for casual table and chairs and/or an island. The bonus features include the pantry closet and extra wide refrigerator/freezer unit. Off the kitchen is the laundry room that has West facing windows that turns a service room into a greenhouse for orchids and other plants. Your center hall has large built-in bookcases to display your favorite collections or your library. Three of the bedrooms are downstairs and all feature beautiful mantles for a focal point. Two baths are also on the first floor - one with a clawfoot tub as you'd expect. Upstairs is an office area with custom desk and large area for play or hobbies. Two more bedrooms with unusual roof lines and a full bath with double vanity. There's also large closets, storage spaces and some attic storage. This home gives you a full width front porch facing North to keep you in the shade during warm Summers. The backyard has a large deck for entertaining and lots of camellias and garden space, irrigation and, of course, a building for gardening supplies. It's also fenced in for your privacy. This property is the complete package of history, amenities and value. Call to schedule your preview today.
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.
