170 Lake Forest Dr Elberton, GA 30635
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About this home
Gorgeous Historic 1933 Farmhouse - Completely Renovated This stunning 5 bedroom, 3 bathroom Colonial Revival Farmhouse offers over 4,800 sq. ft. of beautifully finished living space in the heart of downtown Elberton's Historic District. Perched on a prestigious hilltop corner lot overlooking the city park and walking trails, this home blends timeless charm with modern luxury after a complete renovation in 2022-2023. Inside, you'll find a gourmet kitchen, LVP flooring throughout, and spacious rooms designed for comfort and function. The main-level oversized master suite boasts a sitting area, luxury bath with soaking tub and custom walk-in shower, and a dream closet with exceptional space. A second bedroom suite with walk-in closet is also located on the main level. The beautiful office with wall-to-wall windows offers inspiring park views, while a large laundry room with extra storage adds convenience. Upstairs features three additional bedrooms and a full bath, perfect for family or guests. The property also includes an oversized 3-car garage with a finished bonus room above, ideal for a media room, gym, or guest retreat. Thoughtful upgrades and custom details are found throughout this one-of-a-kind home. All of this is located just steps from downtown Elberton's shops, dining, and historic charm, and only 8 miles from Lake Russell for outdoor recreation. Property Highlights: 5 Bedrooms, 3 Bathrooms, 4,800+ Sq. Ft. Renovated 2022-2023, Historic 1933 Farmhouse Oversized Main-Level Master Suite w/ Luxury Bath & Dream Closet Gourmet Kitchen. LVP Flooring Throughout Large Office Overlooking City Park Second Bedroom Suite on Main. 3 Bedrooms 1 bathroom Upstairs. 3-Car Oversized Garage w/ Bonus Room Above Prestigious Corner Lot. Walk to Downtown. 8 Miles to Lake Russell This home offers the rare combination of historic character, modern luxury, and an unbeatable location. Schedule your private showing today! Much to see here.
Source: GAMLS #10611318
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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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