113 W Gordon St Villa Rica, GA 30180
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About this home
*WILL ENTERTAIN REASONABLE OFFERS* Welcome to 113 W Gordon Street situated on 8.14 acres in the heart of downtown Villa Rica. Zoned commercial mixed use, this property is full of potential for both development and residential buyers. On the property sits a beautiful 4 bedroom 3 bath home built in 1935. With original touches throughout such as hardwood floors, glass door knobs, coffered ceilings, gas fireplace, cedar closets, crown molding and crafted built-ins, it boasts in its historic charm while also having modern updates. On the main floor you'll find your primary suite including an updated ensuite bathroom with a double vanity and soaking tub. You'll also find a guest room, full guest bath, foyer with a beautiful built in, full dining room, breakfast room/laundry room, and kitchen that includes stainless steel appliances and granite countertops. The upper floor has been transformed into a spacious loft style room with a large walk in closet. You'll find a mother in-law suite with full kitchen and bathroom in the basement and includes it's own entrance. Enjoy quiet mornings in the screened-in side porch or summer days on the back deck with fenced in portion of yard. Flourishing grape vines that actively produce four different types of grapes surround the property with a watering system in place which. You'll also find a creek that runs along the backside of the property. Three parcels together make up the 8.14 acres and will convey with the sale of the home. Great income producing opportunity as current renters pay $2500 a month. Enjoy Villa Rica's shops, restaurants and entertainment, as the property is walking distance from it all. It is truly a local gem!
Source: GAMLS #10266121
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FAQs
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.
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