Welcome to Irish Trace! This is a 3 Bedroom home on a large corner lot with right under $50,000 in Seller Upgrades!!! Step inside to New LVP Flooring upstairs and downstairs, NO carpet in the home! Kitchen upgrades include NEW Granite Countertops, NEW sink and NEW garbage disposal. The laundry closet was converted into a LARGE pantry and the laundry area was moved to the garage. There is a nice sized family room and a separate formal dining area that could also make a great office space, both areas have NEW lighting. Right off the formal dining room check out the adorable Harry Potter under the stairway, perfect for additional storage! This home has 2.5 bathrooms and EVERY bathroom has a NEW Toilet, NEW Vanity, and NEW sink and faucets. NEW Bathroom fans were installed in half and the guest bathroom and the guest bathroom also has a NEW shower head. For maintenance peace of mind there is NEW HVAC for the upstairs, NEW water heater, NEW gutter downspouts, NEW water softener system for the home and security cameras added (buyer will have to pay for monitoring). Step outside to a large, fully fenced back yard. On the patio area a retractable Umbrella was installed, such a great space for grilling and entertaining! Outside the seller also a small shed to the end of the driveway for additional storage, perfect for yard equipment. Fabulous Location...Across the street from the Community Pool, approximately 10 minutes to Ashley Park for tons of area shopping and dining options, 15mns to Piedmont Newnan hospital, 10mns to the Newnan Skate Park Linc Entrance, and only about 45mns to the Atlanta Airport! Also conveniently located less than 10mns to all the districted schools... Northside Elementary, Evans Middle and Newnan High School. Such a great home, with fantastic updates, you definitely want to make an appointment to see this home!
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.
