Welcome to 5074 Peach Mountain Circle, a beautifully maintained 4-bedroom, 2.5-bath home in Gainesville, GA. This property offers the perfect blend of comfort, character, and space. With the rare bonus of an additional land lot included (Parcel #15025D000002). The primary home sits on 1.85 acres, and the adjoining lot adds another 2.48 acres, bringing the total to 4.33 acres. Inside, you’ll find hardwood floors throughout and a versatile layout featuring three fireplaces. One in the main living area, one in a secondary bedroom with an attached bonus room, and one in the basement. The oversized master suite includes his & hers walk-in closet and a brand-new master shower, while three additional bedrooms offer plenty of space for family, guests, or a home office. The full walk-out basement, complete with paved access and stubbed for a bathroom, is ideal for an in-law suite or future expansion.This home has been meticulously maintained with thoughtful updates, including: Roof replaced in the last 2 years, New furnace and HVAC blower (2021), Brand new water heater, All new ceiling fans, Fresh interior paint throughout, New front door and window, Septic inspected in 2024 and pumped in 2023. Outside, enjoy the privacy and possibilities of over 4 acres of land, perfect for gardening, recreation, or long-term investment. The additional lot, located to the left of the home, is buildable and ready for a single-family residence. Setback requirements are 30 feet front, 10 feet on each side, and 20 feet rear, providing ample room to design and construct a new home or future investment property.
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.
