118 Grand Oaks Ln Saint Simons Island, GA 31522
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About this home
Motivated sellers, priced to sell! Welcome to this island cottage, just a stone's throw from the beach-only a mile away! Tucked away at the end of a peaceful cul-de-sac, this lovingly cared for coastal home is full of charm. From the moment you step inside, you'll feel the easy, coastal vibe, featuring a vaulted great room with a cozy wood-burning fireplace, a cheerful dining area, and a spacious kitchen outfitted with breakfast area. Enjoy your morning coffee or evening cocktail in the sunroom just off the kitchen-or kick back on the covered front porch overlooking a lagoon with fountain. Parquet flooring and a fun multi-level layout. The spacious primary suite is tucked away for a little peace and quiet, complete with walk-in closet, and an updated bathroom with huge shower. Two more light-filled bedrooms and a shared hall bath make guests or family feel right at home. Downstairs, the garage level offers even more space to relax and enjoy, whether you turn it into a game room, extra bedroom, or the ultimate rec space. With plenty of storage, a two-car garage and all the charm you could ask for, this home is ideal as a full-time retreat or a part-time getaway. Come on in and stay awhile. The island life is calling!
Source: GAMLS #10641222
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.