Opportunity is knocking at 5275 Jones Reserve Walk, where classic charm meets modern sophistication in this quiet pocket community in beautiful Powder Springs. Less than 10 years, this 5 Bedroom, 4 Bath residence offers over 3,100 square feet of tastefully designed living space, whether you're entertaining guests and grilling outside or settling in for a long winter weekend in front of the fireplace. Step through the front door, take off your shoes and set your things down in that large office before sitting down for dinner across the 2-story grand foyer in the formal dining room. Or pull into a 2-car garage and step right into your open concept kitchen and drop those groceries off. Take your breakfasts in a sun-drenched, eat-in kitchen that faces both your fireplace focused family room and your outdoor patio that overlooks the backyard. Speaking of, this chef's kitchen has it all: stone countertops, a large island, double ovens, gas cooktop, and a walk-in pantry. Call it a night and head to the main floor bedroom or retreat upstairs to the oversized primary suite, complete with tray ceilings, separate sitting area, and a second fireplace in front of your future California King-size bed (not included). The ensuite bathroom has, of course, dual vanities, a generous tub, separate large glass shower, and a windowed walk-in closet. Down the hall you'll find 3 additional bedrooms and 2 baths, not to mention, the convenient upper level laundry room. Need more? How about the possibilities in the unfinished walk-out basement! Already stubbed for an additional bathroom, the opportunities are endless: add a gym, a podcast set, a bedroom, or a media room or an in-law suite. Whatever you decide, you have plenty of space and light to do it and it won't even feel like a basement. Nestled on a quiet cul-de-sac, this tucked away community is minutes from restaurants, shopping and recreation, Cobb County schools, and just far enough outside the perimeter to occasionally saunter into the city to enjoy a ball game or the aquarium. Welcome 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.
