474 Lake Howard Rd La Fayette, GA 30728
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About this home
Modern farmhouse charm just minutes from Queen City Lake, hiking & biking trails, and downtown LaFayette - all within a 35-minute drive to Chattanooga! This beautifully updated 3BR/1.5BA home features a spacious main-level primary bedroom, two cozy upstairs bedrooms with dormer nooks, and a bonus office space at the top of the stairs - great for remote work or study. The kitchen has been upgraded with quartz countertops, soft-close cabinets, open shelving, and stainless appliances. The open living area includes custom built-ins and updated lighting, while the full-length front porch with wood posts and a classic porch swing adds the perfect touch of southern charm. Out back, enjoy the screened-in porch and large, fenced yard - ideal for kids, pets, or entertaining. With an acceptable offer, sellers are willing to convert the upstairs half bath to a full bath, adding even more functionality. A stylish, move-in ready home in a peaceful setting with easy access to outdoor recreation and city convenience! Schedule your showing today!
Source: GAMLS #10571475
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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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