4911 Magnolia Cottage Way # 6 Unit 6 Acworth, GA 30101
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About this home
Welcome home to Magnolia Cottage! This beautifully maintained gated community is just one mile from Downtown Acworth and two miles from Lake Acworth! This 2-bedroom, 2-bath cottage is the largest floor plan in the neighborhood and features an enclosed sunroom, soaring 12-foot ceilings, and a wide-open layout perfect for easy, single-level living. Step inside to find new paint, updated light fixtures, and new faucets throughout. The kitchen shines with LG stainless steel appliances (only 3 years old), an oversized single-basin sink with a custom tray system (cutting board, drying rack, rinse tray), and a new garbage disposal. The gas fireplace with classic stone surround anchors the main living area, creating a cozy focal point under tall ceilings and abundant natural light. The oversized owner's suite has hardwood floors, a walk-in shower, and plenty of space to unwind. Both bathrooms feature new toilets (2022), and the home's mechanical systems have been meticulously maintained, roof replaced 5 years ago, hot water heater refurbished 3 years ago, and the HVAC system is serviced annually and in excellent condition. Step outside to your private side yard with a 6' x 40' vinyl fence, complete with paver patio for outdoor dining and a gravel dog run in back, perfect for pets or play. Additional perks include: HOA covers water, trash, and landscaping, keypad entry for both the front and garage doors, two gate remotes included, 220V outlet ready for an electric vehicle, stepless entry with no stairs anywhere! Take your golf cart to the lake or downtown in minutes and enjoy all that Acworth has to offer restaurants, shops, and lakeside relaxation just around the corner. This is easy, comfortable living at its finest! Move-in ready and meticulously cared for. Welcome home to Magnolia Cottage!
Source: GAMLS #10637852
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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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