Welcome to a lovely Flowery Branch property you’ll be proud to call home! Located on a corner lot, this 5-bedroom, 3 bath, two-story beauty shows off with its grand turret and great backyard. Upon entering the lovely home, you’ll appreciate the bright, airy layout and unique features of the picturesque foyer with a large dining room to the left and office/den to the right, both with large windows that allow you to soak in the natural light. Continue straight from the front door to a short hallway leading to the second level staircase and main-level living area with a cozy fireplace just off the kitchen. Enjoy the sunny touch added to the spacious kitchen and casual dining space by the kitchen windows and glass door to the patio. The home's layout is ideally designed to accommodate both indoor and outdoor entertainment. The fenced backyard and covered patio are a perfect escape, offering a nice area to relax and watch the kids play. Keep the garages uncluttered by utilizing a backyard shed, keeping all your lawn equipment at hand. Back inside, the sizeable main level bedroom features a tub/shower combo and granite topped vanity. Upstairs you’ll adore the sitting/lounge area that’s perfect for watching TV or getting lost in a good book. There are three good-sized bedrooms with great closet space, a shared bathroom, and the owner’s suite is a dream with an ensuite double vanity bathroom offering separate tub and glass shower. The laundry room is conveniently located upstairs as well, so no carrying laundry from level to level! Great location, great home, great community and wonderful neighbors. Minutes from Lake Lanier, Restaurants, and Mall of Ga. Make your showing appointment today! This is a must-see, as it won’t be on the market for very long!
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.
