4075 Fincher Dr Gainesville, GA 30504
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About this home
Make this nearly brand new relaxing lake home yours. ASSUMABLE MORTGAGE AT A 2.875%!! The property sits in peaceful cove that offers lots of quiet and tranquility. The cover offers protection from other boats wakes and is a very easy walk down to the dock. Comes with a dock permit and an 18 by 32 Trex with a brand new walkway. The property is on a private cove with deep water and near all of lake hotspots with the quite side near by. Located on the South side of the lake. Five minutes to Port Royale and Pelican Pete's restaurant. This home has been taken down to the studs and completely rebuilt with major additions from the ground up. Sitting on a cozy private cove and private backyard. This lot has it all. The oversized master bedroom has a huge covered back porch that spans the back of the home with lake view, 2 large walk-in closets, beautiful bathroom and a private loft. The main level has a brand new kitchen, appliances, hardwood floors, large pantry and 2 huge bedrooms that overlook the lake with a joining bathroom. Basement is finished wit the plumbing ready for a wet bar and bathroom or small kitchenette. It has a large real masonry fireplace and is the perfect hangout for family and friends. The basement walks out into an enclosed sunroom and outdoor patio area. You are just a few steps to the lake and dock. Upgrades, new electrical wiring with 15 amp sensors. New PEX plumbing and all new PVC drainage. New framing with anti-vibration and anti sagging I-beams and LVLs reinforced filled masonry. Fiber glass reinforced concrete slab pretreated for termites. Polyurethane foam insulation with borate salts to prevent pests. Open cell for roof line and double layered closed cell on all exterior walls. R-value exceeds requirements. New HVAC system that exceeds by 2 tons the requirements. System operates with electronic dampers. Ducts are insulated flex-tube commercial building rated. Septic system was fully replaced. 1000 gallon tank and a second tank 1000 gallon tank for sump pump. New lines installed with plastic domes. Septic system exceeds what the county requires. Septic pump has an alarm and secondary power with separate breaker for fail safe operation. Siding is all Hardie Board cement siding as well as exterior trim. Front door is natural cedar. Does not expand or contract with humidity. It was sprayed with 10 layers of clear coat. Bathrooms have natural 1st class travertine and natural stone. All granite countertops. All plywood cabinets with soft closing drawer systems. All closet shelves are premium cabinet plywood anchored to studs. New roof with synthetic underlayment and flashing. New premium oversized gutters with leaf guard. New driveway.
Source: FMLS #7555891
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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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