300 Westwoods Dr Unit 36 Ellijay, GA 30540
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About this home
Fantastic LOCATION: In town living in one of Ellijay's most desirable and established neighborhoods with NO HOAs. Elegant 5 bedroom home with many features (see features PDF). Walk in to the living room with wood-burning fireplace and adjacent formal dining space, leading to the kitchen with 5 burner natural gas stove with eat-in breakfast room. You'll love the natural sunlight flooding the sunroom. The oversized master bedroom suite (with clawfoot tub) leads to the porch. Laundry room and half bath along with two more bedrooms and renovated bathroom on this level. Upstairs, two bedrooms share a common bathroom as well as two attic storage rooms. Welcoming rock columns by the street, mature trees, new roof in 2022 with gutter guards, Acacia flooring throughout the main floor, Corian tile in kitchen and sunroom and 2.5 baths on main floor, this home is ready for it's new family. Additional features: Trex rear deck, a wine cellar in the unfinished basement, which is heated and cooled, and has room for several cars. Would be a great gym or workshop space. Seller is offering Rent-to-own Option.
Source: GAMLS #10623479
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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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