4.75% Assumable FHA with Roam! Discover unmatched charm and serenity at 374 Seab Green Road in Cedartown, GA! This stunning A-frame retreat sits on approximately 300 feet of pristine frontage along Big Cedar Creek, offering year-round views and a peaceful escape right at home. Designed to maximize natural beauty, this home allows you to take in the flowing creek from multiple vantage points throughout the interior. Full of character, warmth, and architectural appeal, the home welcomes you with an inviting main level featuring the primary bedroom, a secondary bedroom, with 2 full bathrooms. Upstairs, you’ll find an 2 additional bonus rooms with a half bath—perfect for guests, an office, or a cozy getaway space. The upper balcony provides breathtaking views over the creek, while the spacious deck below allows you to relax to the soothing sound of running water. Step outside and explore your personal slice of nature: • Hunt for Indian artifacts such as pottery and arrowheads right in the creek • Enjoy fresh fruit from the many producing fruit trees planted across the property • Spend your afternoons lounging on the creek bank just feet from your back door Seller has a Flood Elevation Certification available, offering peace of mind and added clarity for buyers regarding the property’s flood considerations. This is a rare opportunity to own a truly unique waterfront property with unmatched natural beauty. Homes like this don’t come available often—don’t miss your chance!
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.
