120 Ridgemore Cir Toccoa, GA 30577
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About this home
You've been searching for an affordable lake home on great water-and this is it! Forget the run down mobile homes and tiny cabins tucked away in shallow coves with swim / platform docks or kayak water depth. 120 Ridgemore Circle is located in a DESIRABLE lake community and comes with a covered slip dock on the main Tugalo channel of Lake Hartwell. This 2-bedroom, 2-bath home (additional space downstairs) offers features you won't often find at this price point. Enter from the garage and basement level, or from the upper level deck with its own driveway. The main level welcomes you with an open floor plan connecting the living, dining, and kitchen areas. The kitchen includes a center island with surface cooktop, stainless steel appliances, and plenty of cabinetry. Just down the hall are two bedrooms and a full bath. From the primary bedroom, step onto the covered back deck to enjoy your morning coffee in peace. The lower level offers flexible living space with a fireplace, wet bar, and full bath-perfect as a game room, second living room, or even a large guest suite. The garage and laundry area are also conveniently located on this level. Outside, take a leisurely stroll-or hop on your golf cart-down the concrete path to your covered slip dock with excellent water depth on the Tugalo River channel. Two storage buildings and an additional covered parking area for your lake toys add even more value and convenience. Don't miss this rare opportunity to own a lake home with a covered slip dock, deep water, and space to spread out-all at an affordable price!
Source: GAMLS #10612244
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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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