4777 Destitute Way Gainesville, GA 30506
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About this home
Welcome to this rare stretch of north Lake Lanier shoreline, where the grass rolls gently to the water’s edge and the double-slip dock sits just steps from the back porch. Here, the water is deep and wide, and begging to be enjoyed. This classic, yet refreshed, brick residence is bathed in sunshine and effortless lakefront luxury. Wide water views greet you from nearly every room, grounding the home in the serenity of Lake Lanier. Inside, light-filled gathering spaces balance comfort with quiet sophistication. A classic craftsman entry leads into a welcoming foyer, flanked by an office and formal dining room with refined wall and ceiling details. Lanier’s sparkling waters reflect off the great room walls. The kitchen—fitted with granite, stainless appliances, and a central island—flows seamlessly into rooms designed for connection: a keeping room warmed by a double-sided fireplace, an enclosed sunroom for morning coffee, and a screened porch that brings the outdoors in. The main-level primary suite is a private retreat, offering tranquil lake views, screened porch access, and a spa-like bath that invites pause. Upstairs, two generous suites and a lofted common area provide both comfort and privacy. The spacious, walk-in, expandable attic offers versatile possibilities—whether for storage, future teen retreat, an additional study, or craft room. Meanwhile, the terrace level opens an entirely new dimension of living. With its own kitchen, private entrance, theater, game room, and vast living area, this space is ideal for multi-generational living or an income-producing retreat—all without sacrificing the sense of home. Freshly updated, move-in ready, and defined by its ease of living. This residence is not just a lake house—it is a lifestyle, where weekends spill into weeks, and the water becomes a daily backdrop to life well-lived. Set in the desired North Hall school district, the property offers an exceptional location by lake or land.
Source: FMLS #7640095
Neighborhood
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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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