Southern charm, history, and character awaits! Come and view this elegant Home with endless character. This four bedroom, two full bath Home features beautifully- maintained Hardwood floors throughout and spacious rooms. As you enter the Home, you will be captured by the beautiful sunlight that cuts through the elongated windows that work their way from the floor to the ceiling. Wide hallways allow you to comfortably navigate throughout the main floor of the Home. The kitchen features a stone countertop and solid tiles floors complimented with authentic cabinets. Right off the kitchen sits a sunroom that could be as a mud room also. As you gallop upstairs, you will be taken away by the attention to detail of the hardwood staircase. Right off the staircase is a roomy loft area with two very spacious rooms adjacent to it. One room features a walk in closet fit for anyone. The adjacent room has a beautifully-crafted full bath that needs no introduction. The backyard features a solid concrete patio with plenty of space for summer cookouts, relaxation, and morning conversations with nature. Complimenting the patio is a beautiful greenery space that is perfect for gardening. The backyard features a peach, pear, and beautiful willow trees to name a few! Notice the parking area that provides six or more cars to be comfortably parked- right in time for family and friend gatherings, or business functions. Evergreen trees along the parking area grants extra privacy. This property is zoned for commercial use but could easily become your living space where you can enjoy everything this thriving district has to offer. This Home truly is a gem. Located just seconds away from stores, restaurants, lakes, stage play theaters, and of course the historical downtown Fairburn district! Do yourself a favor and tour this Historical gem, 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.
