1370 Michael Rd Monroe, GA 30656
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About this home
Welcome Home! This stunning 4-bedroom, 2.5-bath residence was built in 2021 and sits on 5 acres of private, peaceful land with a paved driveway and gated entrance. Also noting, fully fenced in 2-acre pasture! Enjoy a tranquil, off-the-beaten-path lifestyle while still being conveniently close to downtown Monroe. The fenced property includes a 2-acre pasture, chicken coops, and a large two-story red barn with stair access to the upper level—perfect for storage, workshop space, or future customization. (Note: the barn does not currently have power.) This setup is ideal for anyone seeking a mini-farm or hobby homestead. Relax on the inviting covered front porch or the spacious covered back porch, featuring double French doors that open into the home. Additional exterior highlights include a wide parking pad with commercial-grade concrete and plenty of room for guests. Step inside to an open-concept layout with 9-foot ceilings and hard-surface flooring throughout. The bright family room overlooks the eat-in kitchen, which boasts granite countertops, a farmhouse-style undermount sink, stainless steel appliances, tile backsplash, built-in microwave, and soft-close cabinetry. The oversized two-car garage (with 16+ foot ceilings, perfect for floor to ceiling storage cabinetry and overhead ceiling storage racks) leads into a custom-built mudroom. The owner’s suite offers luxury and comfort with a fully renovated ensuite bathroom featuring a double walk-in tiled shower, standalone soaking tub, private water closet, dual vanities, and linen storage. The spacious walk-in closet provides direct access to the laundry room for ultimate convenience. The laundry room includes a soaking sink, folding station, and extra storage with space for future expansion. Secondary bedrooms are generously sized with ample closets and share a full bath on the main level. Upstairs, you’ll find the fourth bedroom and an additional office area, along with two attic storage accesses and a charming barn-door closet. This exceptional property blends modern comfort with country living—ready for you to call it home! ****READ PRIVATE REMARKS PRIOR TO SHOWING!****
Source: FMLS #7661615
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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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