1 of 26
$364,000

9042 Holder Rd, Locust Grove, GA 30248

5 beds · 3 baths · 2,576 sqft

Nestled within the tranquil Grove Village gated community, this immaculate residence, just three years young, exudes modern comfort and craftsman charm. Boasting five generously proportioned bedrooms and three full baths, the home is designed for both relaxation and entertaining. The heart of the home is its inviting open family room, complete with a brick hearth wood-burning fireplace seamlessly flowing into a chef-inspired kitchen. Adorned with granite countertops, stainless steel appliances, 42" cabinets, and a stylish backsplash, the kitchen includes an island perfect for culinary endeavors and social gatherings. A flexible lower level offers a multipurpose room ideal for formal dining or a home office, catering effortlessly to today's lifestyle needs. A guest bedroom with a full bath on the main level ensures comfort and privacy for visitors or older children. Upstairs, the expansive owner's suite awaits, featuring a sitting area, vaulted ceiling, and a private spa bath-a serene retreat boasting a garden tub with tile surround, a separate shower, double vanity, and an oversized walk-in closet. Each secondary bedroom offers vaulted ceilings and ample closet space, with all bathrooms thoughtfully equipped with linen closets. Convenience meets functionality with a second-level laundry room with shelving for added storage. Outside, the leveled and sodded patio and backyard beckon for outdoor enjoyment. Residents of Grove Village enjoy an array of community amenities, including a soccer field, playground, fenced basketball area, and scenic walking trails. Located mere minutes from Tanger Outlets, I-75, and acclaimed schools, this home offers comfort and convenience. The seller is willing to contribute $5,000 towards closing. With our PREFERRED LENDER, this home qualifies for $15,000 in grants, which could be used for a downpayment or closing + a $1,500 lender credit. This home is also USDA eligible with 100% financing available. Homes for Heroes Rewards are also available.

Estimated
Seller's interest rate
3.1%
7%
Estimated
Monthly payment
$1,148
$1,721
You may also save up to $181,539 in total interest paid.
Listing price
$364,000

Your cash down payment
$115,583
Seller’s estimated current equity is $115,583
To assume this mortgage you must cover the seller’s equity by using your cash or by combining your cash with a 2nd mortgage.
Estimated $1,148 monthly payment

Financed
$248,416
Assumed mortgage 3.1% • Seller's rate
$248,416
2nd mortgage 9.25% • No prepay penalty
$0

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.
Location
Details
Home
Lot size
0.15 acres
Year built
2021
Type
Single Family Residence

Source: GAMLS #10335853

Loan
Remaining term
26 years, 5 months
Rate
3.1%
Monthly P&I
$1,148
Remaining loan balance
$248,416

Source: Public records

How it works

Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.

Tour

Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.

Offer

Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.

Close

Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.

Who can qualify

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.

Frequently asked questions

What is Roam?

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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.

What is an assumable mortgage?

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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.

Why is an assumable mortgage valuable?

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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.

How can you find assumable mortgage listings?

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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 “Get Notified” 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.

How do I qualify for an assumable mortgage?

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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.

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Last updated: Dec 06, 2024 12:22 am
Listing agent: Dzondria Tarver (470) 773-1488
Listing provided courtesy of:
Details provided by GAMLS and may not match the public record.
MLS ID: #10335853
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of GAMLS. All real estate listings are marked with the GAMLS Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Copyright © 2024 GAMLS. All rights reserved.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 30 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$1,148/mo
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