Instant savings available with an assumable FHA loan at 4.125%! Tucked within the natural beauty of Smoke Rise—one of the area’s most sought-after communities—this stately brick traditional offers a rare blend of privacy, mature landscaping, and timeless architecture. With solid construction and generously sized rooms, it’s a home that reflects a level of craftsmanship that’s increasingly hard to find. Set on a picturesque lot, the property lives like a private retreat, where an all-glass sunroom fills the home with natural light and provides year-round enjoyment of serene backyard views. A flagstone patio creates the perfect setting for outdoor dining, morning coffee, or relaxed evenings. Inside, the home offers approximately 3,700 square feet of finished living space, plus an additional ~1,200 square feet of basement space. A curved, newly restored brick entry leads to a dramatic two-story foyer with an overlook balcony, setting the tone for the home’s spacious and functional layout. The fireside family room, formal dining room, and main-level guest suite provide flexibility for both everyday living and entertaining. The kitchen features granite countertops, abundant cabinetry, and a breakfast nook, while a second fireplace in the living room adds warmth and classic character. Upstairs, the spacious primary suite—with a double vanity—serves as a comfortable retreat. A second-floor library opens into a generous bonus room, offering versatile space for a home office, media room, or additional living area. Front and rear staircases enhance everyday flow and convenience. The sellers have invested approximately $88,000 in meaningful updates and repairs, with a focus on long-term value and major systems. Improvements include updates to septic tank components; replacement of an HVAC unit and furnace; installation of a new hot water heater; 32 new energy-efficient windows; a roof; a whole-house water filtration system; and updated ceiling-mounted light fixtures. Exterior enhancements include fresh trim painting, replacement of the brick mailbox, and a new insulated steel garage door and opener. With these significant improvements already completed, the home is well positioned for its next chapter. The list price reflects both these system upgrades and the opportunity for a buyer to personalize interior cosmetic finishes to suit their style. Smoke Rise is known for its unique combination of natural beauty, generous lot sizes, privacy, and a long-established community identity. Winding roads, mature trees, and a peaceful setting create a true sense of retreat while remaining connected to everyday conveniences. Residents enjoy proximity to Smoke Rise Country Club (membership optional) and Stone Mountain Park, along with easy access to dining, shopping, and community events in Tucker and Lilburn. Convenient access to US-78 and I-285 makes commuting to major employment centers simple, offering an ideal balance of tranquility and accessibility. Blending privacy, natural surroundings, thoughtful improvements, and generous square footage, this home presents a rare opportunity to enjoy the character of an established community while making it distinctly your own.
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.
