Charming two-story cabin located in a desirable lake community, set on over an acre of private, usable, and unrestricted land. The property features a 30-amp RV hookup with water and sewer, three storage buildings for ample space, and a fully fenced backyard for added security. Plenty of off-street parking is available, and community lake access is just a few blocks away. Designed for comfortable, low-maintenance living, the home offers engineered wood flooring, a brick-textured kitchen backsplash and accent living room wall, and a gas stove fireplace that serves as the centerpiece of the living area-perfect for cozy evenings. Blending rustic charm with contemporary style, this two-bedroom, one-bath retreat is surrounded by nature and best enjoyed from the rocking-chair front porch, the private backyard deck, a custom fire pit, or the hot tub under the stars. Conveniently located near the lake and endless outdoor recreation, including hiking and biking trails, swimming and fishing spots, and just a short scenic drive to town for shopping, dining, golf, and parks. This property would make an excellent personal getaway or income-producing rental. Ideal for gatherings, hunting and fishing trips, or hosting large groups, the home comfortably accommodates up to 6 guests and two sheds and a garage to store your car,atv etc, with additional RV connections allowing for more visitors or rental potential. Peace, privacy, and mountain living await-escape the hustle and enjoy crisp mountain air just minutes from Lake Nottely and all the beauty of the North Georgia mountains. Some furnishings may remain. Affordable tranquility awaits in this newly renovated home with easy access and a level yard. RV hookups offer flexibility for extended family or guests, while a powered workshop, in-house laundry, and energy-efficient upgrades add convenience. A brand-new Panasonic ductless unit efficiently heats and cools the entire home. Warm wood ceilings and a tiled bath enhance the cozy cabin feel. Bring your boat and fishing gear-Lake Nottely is just minutes away. Currently operating as a nightly rental; furnishings are negotiable.
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.
