705 Gilmore St Waycross, GA 31501
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About this home
Step into timeless elegance with this stunning 7-bedroom historic gem, built in 1880 and proudly listed on the National Register of Historic Homes. Overflowing with character and original details, this beautiful residence boasts soaring 11 to 12-foot ceilings, gorgeous wood floors, and original beadboard that perfectly capture its classic charm. Relax and unwind on the expansive front porch or the inviting second-story balcony, ideal spots to enjoy your morning coffee or evening breeze. The completely renovated kitchen is a chef's dream, featuring ample space and a large dining area that seamlessly opens onto a covered back porch, perfect for gatherings and entertaining. This spacious home offers a formal dining room, a cozy living room, and a comfortable family room, providing plenty of space for every occasion. On the main floor, you'll find two bedrooms, a laundry room, and a full bathroom, ideal for convenient living. Upstairs, discover five additional bedrooms and three bathrooms, offering plenty of room for family and guests. With so many unique features and an unbeatable blend of historic charm and modern updates, this home is sure to capture your heart. The property will be completely cleared out before closing, making it move-in ready for you to start your new chapter!
Source: GAMLS #10629506
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Close stress-free in 45 days, handled start to finish by Roam.
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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.