5993 Wellington Ave Gainesville, GA 30506
Your savings
About this home
Beautiful 5-Bedroom Home in Sought-After Lake Community! Welcome to this spacious and beautifully maintained 5-bedroom, 3.5-bath home located in a desirable lake community with fantastic amenities, including tennis courts, a pool, and access to nearby lake homes—plus new lake homes being built just across the street! Step inside to find an inviting family room with a cozy fireplace that flows seamlessly into the dining area—perfect for entertaining or family gatherings. The oversized kitchen features stunning granite countertops, white cabinetry, and plenty of room for a breakfast table. A large laundry room is conveniently located on the main level, and the roof (5 years old) and water heater (2 years old) add peace of mind. Upstairs, you’ll find four spacious bedrooms, including a relaxing primary suite with a double vanity, soaking tub, and separate shower. The fully finished terrace level offers incredible flexibility—it’s ideal for an in-law suite, teen apartment, or potential rental income with its own private living space. Enjoy the well-manicured yard complete a tranquil koi pond with waterfall sounds, and take advantage of the large powered storage building out back for tools, hobbies, or extra storage. The level driveway and 2-car garage complete the picture—making this home both beautiful and practical. Don’t miss your chance to live in this peaceful community close to the lake, with everything you need right at home!
Source: FMLS #7669331
Loan details
Neighborhood
45-day close guarantee
Close stress-free in 45 days, handled start to finish by Roam.
Roam Price Match
If you find a better price on any home, we’ll match it.
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.