This fabulous house is just minutes away from Stone Mountain Park, Golf Course, shopping malls, restaurants and highways. Head inside and you will fall in love with this beautiful spacious house. Featuring a sumptuous eating area and separate formal dining room, living room, family room, and an extra room that can be used as a bedroom or an office, an enclosed garage with tile flooring, a sunken main room. The garage has been converted to a second oversized bedroom with an attached bathroom on the main level which would be perfect for multi-generational living, guest/teen suite or anyone who is looking for two primary suites. There are tons of windows throughout this home which allow for a lot of natural light to brighten up this home. This house also features a large master bedroom with a sitting area, walk in closet, double vanity/sink, separate room with toilet, large bath/dressing room, and 4 other large bedrooms with double height vaulted ceilings. In addition, this house is full of unique features that makes it stunning and cozy, with natural wooden flooring in some rooms, a fireplace in the family room, ceiling fans, over the stove microwave and double stairs. Moreover, there are several storage rooms, a laundry room with shelves. Step outside and you will be greeted with a large deck, overlooking a large backyard with an unused pool, lots of fruit trees and a storage house, beautiful landscape garden in front yard and a large front porch. House can be sold with some furniture. The roof is 6 years old, the water heater is new and the heating system is updated also. In addition some blinds are newly installed. The deck and the area around the pool has been newly repaired, the flooring in the living and dining rooms are new. WHAT THE SELLER LOVES ABOUT THIS PLACE What i love about this home is the spacious rooms, the double stairs, plenty of storage and the sunken main room. The neighborhood is safe and extremely quiet. It close to shopping, Historic Stone Mountain Park and Highways. There is also a spectacular view of the lake. Outside, there are enough space to keep a large party, cookout, or gathering.
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.
