Welcome home to this lovely, spacious home tucked away in a cul-de-sac in Gwinnett County's highly sought-after Hamilton Mill Community. This home invites you into an open floorplan with large rooms throughout, and a two-story foyer with hardwood floors. Newly repainted interior with new flooring! This five-bedroom, four-and-a-half-bathroom house offers approximately 4,015 square feet of living space. The home features hardwood floors, LVP, and carpet throughout. A fireplace in the living room area provides a cozy ambiance while the high ceilings create a spacious and airy atmosphere. The kitchen boasts granite countertops, providing ample preparation and space with an abundance of cabinets and an island for additional counter space. An enclosed porch off the kitchen provides a tranquil retreat with a partial view of the pond. Upstairs, you will find 4 bedrooms and a large loft for a cozy movie night or extra space! The oversized primary bedroom provides a comfortable and private retreat. The FINISHED expansive daylight basement provides endless possibilities: create a home theater, gym, workshop, additional living quarters, or a private guest bedroom. Additionally, there is a finished game room, complete with a pool table and additional storage room. Hamilton Mill Amenities: 18 Hole Golf Course with private membership, Fine Dining facilities, Angelos Pizza place, Community Clubhouse, with fitness center, 2 pools, kids pool, kids splash pad, kids waterslide, 16 tennis courts, tennis pavilion, 6 Pickleball courts, outdoor picnic area, basketball, soccer field, playground, and stocked fishing pond. Mill Creek School Cluster is close to Interstate 85, restaurants, and shopping. $7,000 carpet allowance. New Roof 2024.
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.
