Take advantage of a rare opportunity to assume an FHA loan at just 4.125% and enjoy immediate savings compared to today's market rates. Nestled among the mature trees and rolling landscapes that define Smoke Rise, this classic four-sided brick home offers the space, privacy, and character that buyers are increasingly seeking. Situated on a beautifully landscaped lot, the property feels like a private retreat while remaining conveniently connected to everything Tucker, Lilburn, and the surrounding area have to offer. An expansive all-glass sunroom serves as one of the home's standout features, filling the interior with natural light and offering peaceful views of the backyard throughout every season. Just outside, a flagstone patio creates the perfect setting for morning coffee, outdoor dining, or relaxing evenings surrounded by nature. Inside, approximately 3,700 square feet of finished living space is complemented by an additional 1,200 square feet of unfinished basement space, providing room to grow and customize. A curved brick entry and newly restored front walkway welcome you into a dramatic two-story foyer with an overlook balcony. The thoughtfully designed floor plan includes spacious living areas, a fireside family room, formal dining room, and a main-level guest suite that offers flexibility for visitors, multi-generational living, or a private home office. The kitchen features granite countertops, abundant cabinetry, and a sunny breakfast area, while a second fireplace adds warmth and character to the adjoining living space. Upstairs, the generous primary suite offers a comfortable retreat with a double vanity bath and ample closet space. A unique second-floor library opens to an oversized bonus room, creating endless possibilities for a media room, home office, playroom, fitness space, or additional living area. Front and rear staircases enhance functionality and everyday convenience. Over the years, the sellers have invested approximately $88,000 in major improvements focused on the home's long-term value and performance. Significant updates include HVAC and furnace replacement, a new roof, new hot water heater, 32 energy-efficient windows, updates to septic system components, a whole-house water filtration system, updated lighting, fresh exterior trim paint, a replacement brick mailbox, and a new insulated steel garage door with opener. With many of the home's major systems already updated, the next owner can focus on personalizing cosmetic finishes and making the space their own. The pricing reflects both the extensive infrastructure improvements and the opportunity to add your personal style. Known for its winding roads, mature trees, spacious homesites, and enduring sense of community, Smoke Rise offers a setting unlike many newer developments. Residents enjoy convenient access to Stone Mountain Park, optional membership opportunities at Smoke Rise Country Club, local dining and shopping destinations, and easy connections to US-78 and I-285 for commuting throughout Metro Atlanta. Combining timeless architecture, substantial updates, exceptional space, and a peaceful natural setting, this is a rare opportunity to create your next chapter in one of the area's most established and desirable communities.
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.
