3845 New Salem Ct Cumming, GA 30040
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About this home
This very spacious former model home in popular Bridgetowne community, conveniently located close to highways 369 and 400, is not to be missed. Boasting 4 bedrooms and 3.5 baths, this brick front home offers an open and airy floorplan. A charming front porch leads you into the front living/sitting room and large dining room flanked by plenty of windows. Enjoy lovely hardwood floors and a wide-open plan on the main level. Next you'll find an ample great room open to the breakfast area and huge kitchen offering endless counter space. The kitchen has stained cabinetry, stainless appliances and solid surface counters. Upstairs, you'll find four spacious bedrooms including a lovely primary suite offering private sunny bath and large closet space. The carpet has been recently updated on this floor. The terrace level has been perfectly upgraded including a wide-open plan ready for playing a little pool, watching some games and lounging at the custom bar...perfect for entertaining. Also, there's a full bath and flex room. Outside, you'll enjoy a freshly stained deck and new wood fence and the roof was recently replaced. Bridgetowne is a vibrant active swim/tennis community and is located in a rapidly growing area of Cumming, GA and is 10-15 minutes from downtown Cumming, Sawnee Mountain, Lake Lanier and the North Georgia Outlets. Home was just staged with modern furnishings!
Source: FMLS #7572122
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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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