Instant Equity Opportunity in Highly Sought-After Central Park! Welcome home to luxury living in Loganville's desirable Central Park community! Situated on a commanding corner lot, this immaculate 5-bedroom, 3-bath residence offers the perfect blend of elegance and functionality. From the moment you step inside, you are greeted by sophisticated details, including stunning coffered ceilings and a layout designed for modern life. The main floor is an entertainer's dream, featuring a dedicated home office and a convenient bedroom on the main level-perfect for guests or multi-generational living. The gourmet kitchen overlooks the Family Room with easy access to the oversized dining room, perfect for parties or large family dinners, and a built-in bar. However, the true showstopper is the outdoor living space. Step out to your private screened-in porch featuring a cozy fireplace. It is the ultimate spot for year-round relaxation and morning coffee, with easy access to the backyard and also includes a side yard, which is unique for the community. Upstairs, a versatile loft/flex space anchors the living quarters. The primary suite is nothing short of massive, serving as a true owner's retreat. It boasts a spa-inspired bathroom with a double vanity, a huge standing shower, and an enormous walk-in closet that must be seen to be believed. Located in a community with a sparkling pool, park, and sidewalks, and districted for top-rated Gwinnett County schools, this home checks every box. Best of all? This property is priced below appraised value for an immediate sale. This is a rare chance to walk into a turnkey home with instant equity, priced $50,000 below appraisal. Schedule your showing today before it's gone!
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.
