220 Oakridge Ln Ellijay, GA 30536
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About this home
Location, location, location! This spacious 5-bedroom (possible 6th), 3.5-bath home offers the best of both worlds-less than 5 miles to shopping and restaurants, yet it feels like you're tucked away in the countryside. Step inside to an expansive living room with vaulted ceilings, a corner fireplace, and tons of natural light from all the windows. The main level flows right into the kitchen, which features stainless steel appliances, a walk-in pantry, and plenty of cabinet space. You'll also find the dining room, laundry room, half bath, 2-car garage, and the oversized primary suite all on the main floor. The primary bedroom has plenty of room to arrange your furniture however you'd like, and the bath includes a soaking tub, separate shower, water closet, and comfort-height counters. Off the dining area, step onto the covered and screened-in back porch-perfect for enjoying the outdoors bug-free. There's also a large grilling deck just off the porch. And with 1-step entry from the garage, it's easy to bring in groceries or guests. Upstairs, you'll find two more bedrooms, a full bath, a loft area, and a bonus room that's perfect as a home office, playroom, craft space, library-or even a 6th bedroom or bunk room. The fully finished basement offers two bedrooms that could also be turned into a media room, game room-whatever suits your needs-along with a full bath. High ceilings and a walk-out patio make the space feel open and connected to the backyard. There's also a large unfinished storage area for all the extras. This home offers flexibility, space, and a great location-come see it for yourself!
Source: GAMLS #10544628
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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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