3487 Samantha Dr Buford, GA 30519
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About this home
This home is on a Huge older Gwinnett county lot in sought after North Gwinnett Estates, over 1.5 acre level lot. No HOA just for grounds upkeep. This large home has 5 rooms on the main floor which one includes a sliding barn door and 4 on the second floor with an additional large building in the back yard with another 1-2 rooms and a single garage in additon to the 2 car garage attached to the house for a total of 10 rooms and 3 garages. Large level rear yard is separated into 3 different areas by large established trees (able to support 3 events at one time), landscape and flowers creating private areas. Inground heated Pebbletech Pool, works and is currently running just needs cleaning, waterfall into the pool needs a part and it will work. Double wrought iron gate for easy vehicle, boat even RV access to the rear yard. Minor cosmetics repair, owner is unable to at this time due to health. Home has solar panels on the back of the house, sun room/large dining area, exterior stone walkways, pebble granite saltwater pool, walking paths through the landscaped flower gardens, This home is close to shopping, malls, Lake Lanier, several parks, golf courses, airport and I-85, 30 min NE of Atlanta. Seller is selling due to a reduced income and health concerns. Swingset and side deck that is not covered is not safe, please use caution. This side deck area used to support a hot tub that was removed by the prior owner and not covered well, only a temporary fix. A hot tub could go back in this area. Altough price is pretty firm let's talk..
Source: FMLS #7650814
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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.
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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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