Home for sale in Gainesville, Georgia! A great opportunity to own a home with 14.42 acres of land at the end of a peaceful country lane. This potential family compound boasts multiple living spaces including a separate living room, a kitchen with breakfast bar and dining area, a separate dining room, office, and laundry room, all conveniently located on the main floor. The primary bedroom suite has a walk-in closet and a spacious master bathroom. The finished basement adds even more versatility to this home providing bedrooms, a bathroom, and a kitchen and can be transformed into a media room, game area, or home gym, catering to your specific needs. The outdoor living is a highlight of this property with a covered front porch, sunroom, and deck that offers an open view of the back of the lot which includes an in-ground swimming pool. It's perfect for hot summer days. One of the most unique features of this property is the multifunctional cabana. Located just steps from the pool, with two half-baths and shower. The cabana offers a shaded seating area making it an ideal spot for entertaining family, friends, or hosting business meetings. The cabana also has a large outdoor kitchen with cabinets, counters, and a refrigerator, providing the perfect space for grilling and refreshing drinks. For those who enjoy equestrian activities, this property is a dream come true. The property has a small pond and a well. The wooded area surrounding the property provides ample open space for relaxation and nature exploration. Don't miss out on this opportunity to own this beautiful farmhouse-style retreat set on a picturesque property with outdoor living, privacy, and gated entry. Schedule your showing today and embark on a lifestyle enhancement and surrender to nature. Conveniently located near downtown Gainesville, this property offers the best of both worlds. Enjoy the tranquility of the countryside while still being close to the city's amenities and attractions. Just a few minutes from I-985N and I-85N.
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.
