547 Michael Cir Monroe, GA 30655
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About this home
PRICED BELOW APPRAISED VALUE! Welcome to this charming five-bedroom, three-bath home on a full FINISHED BASEMENT with a FENCED backyard, offering the perfect blend of privacy and functionality. Situated on OVER AN ACRE, this property has been thoughtfully maintained and features an irrigation system for a effortless lush lawn. The covered rocking chair front porch invites you into a welcoming two-story foyer, highlighted by a palladium window that fills the entry with natural light. A formal living room/office has been converted into an additional bedroom, ideal for guests or flex space. The formal dining room, complete with wainscoting, flows seamlessly into the eat-in kitchen, complete with a bay window, great counter space, UPDATED APPLIANCES, and a breakfast bar for extra seating and serving options. The adjoining open family room boasts a cozy wood-burning fireplace, just in time for cooler weather, along with access to the main-level deck. The home also includes a newer TANKLESS HOT WATER HEATER for added efficiency and peace of mind. Upstairs, the primary suite features a tray ceiling, double vanity, garden tub, walk-in shower, and a closet that connects to one of the secondary bedrooms, creating an ideal nursery layout or an oversized wardrobe. Spacious secondary bedrooms and another full bath complete the upper level. The FINISHED BASEMENT offers endless possibilities, featuring a MEDIA ROOM, billiard room, and bonus spaces for hobbies or entertainment. With walk-out access to the backyard, this level could be transformed into a second living area for multi-generational living. The fenced portion of the yard can be extended to include even more space, and with NO HOA, you have complete freedom to design a backyard you enjoy. Consider adding a covered patio, firepit, or outdoor kitchen to take advantage of the serene setting as the property backs up to the protected Mountain Creek, ensuring no close rear neighbors and providing a peaceful wooded backdrop. Take advantage of the home’s convenient location near major highways, grocery stores, reputable schools, healthcare facilities, and DOWNTOWN MONROE for local dining and shopping favorites. Just a short drive to Athens, this home offers both privacy and accessibility.
Source: FMLS #7655306
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.