8040 Gracen Dr Gainesville, GA 30506
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About this home
LIMITED TIME: Possible 1% RATE BUY DOWN for qualifying offer. INTEREST RATE in the 5% range (your Lender determines rate) Ask agent for details. Charming Lake Lanier Retreat with Spacious Layout & Prime Location. Welcome to your dream home at Lake Lanier! This beautifully designed residence offers an open-concept floor plan ideal for entertaining and everyday living. Featuring 3 generously sized bedrooms, 2.5 baths, and a large bonus room all on ONE level, providing comfort and flexibility. Enjoy the privacy of a split-bedroom layout, with the primary suite tucked away on one side and two additional bedrooms on the other. The bonus room at the front of the home is spacious enough to convert into a 4th bedroom (with prior approval) or use it as a home office, gym, playroom, craft studio, or whatever suits your lifestyle. Gleaming hardwood floors, Gourmet kitchen with table height Granite Island, breakfast bar with stools, stainless steel appliances & walk-in pantry. Expansive family room with cozy fireplace, high vaulted ceilings in bedrooms for an airy feel. Primary suite with tray ceiling, sitting area, dual vanities, soaking tub, separate shower & walk-in closet. Outdoor Features: Low maintenance concrete exterior siding, flat level driveway, enlarged covered patio perfect for gatherings, Private, low-maintenance backyard with concrete walkway to the front porch, Relax and unwind on your rocking-chair front porch. Community & Location: Nestled in a quiet, close-knit neighborhood, just 5 minutes from Lake Lanier's Little Hall Park with three boat ramps, and 10 minutes to Gainesville Marina, Duckett Mill ramp, Walmart, Publix, shopping, and dining. This home offers the perfect blend of tranquility, convenience, and versatility. Come see it today and imagine the possibilities!
Source: GAMLS #10626245
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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.