1 of 45
$399,900

11 Kingsbrooke Dr, Palmetto, GA 30268

4 beds · 2 baths · 1,967 sqft sqft

Excellent opportunity to own a meticulously maintained home situated on a beautiful lot in the Northgate High School district! This light-filled traditional 3 bedroom 2 bath home sits on almost an acre and enjoys privacy in the backyard and low traffic on this quiet street. Enter into the cheery foyer and you'll find a large open floor plan with vaulted ceilings, hardwood flooring, large great room with cozy fireplace and separate dining room, perfect for all of your entertaining needs. The central chef's kitchen offers plentiful wood cabinetry, granite countertops, stainless steel appliances with gas cooking, and a large eat-in area with pretty bay-window and access to the covered patio. The kitchen is easily accessed from the step-less entry garage and laundry/mudroom and has a full view of the covered patio and yard, the dining room and the great room. The extra large Primary suite has a dramatic trey ceiling, large windows and double walk-in closets, a linen closet, and a private spa-like bathroom. The Primary bathroom features separate vanities with quartz countertops, a separate shower, large soaking tub with accent window, and vaulted ceilings. The secondary ample bedrooms are conveniently located next to the hall bathroom and have large double closets. Upstairs you'll find a large bonus room, perfect for an office, theater or workout room, or a 4th bedroom! Additional features on the main level include: smooth ceilings throughout, hardwood flooring, wall-wall carpet, custom closets, large windows throughout, ceiling fans, accent lighting, and plentiful storage. The back patio is easily accessed from the great room and overlooks the expansive and private backyard with mature trees and a garden area. All this plus an oversized 2-car garage with plenty of space for extra refrigerators, toys, tools or gear and an electric car charger! Enjoy life in this quiet and peaceful neighborhood located near shopping and restaurants with convenient access to major roads and I-85 for easy-access to Atlanta and Hartsfield-Jackson Atlanta International Airport (only a 27 minute drive!).

Interest rate 3
3.87%
With Roam
6.5%
The seller’s mortgage rate at the time the loan was originated.
Monthly payment 3
$945
With Roam
$1,208
Reduce your monthly payments by $262 when you assume this mortgage.
You also save $72,626 in total interest paid.

$226,808
Edit

You may be able to put down less than the total down payment amount of $226,808 and have the rest of the funds financed with a 2nd mortgage from a lender. 4

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.
Location
Details
Home
Size
1,967 sqft
Lot size
1.651 acres
Year built
2005
Type
Single Family Residence

Source: GAMLS #10397747

Loan
Remaining term
23 years, 1 month
Rate
3.87%
Monthly P&I
$945
Remaining loan balance
$173,091

Source: Public records

How it works

Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.

Tour

Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.

Offer

Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.

Close

Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.

Who can qualify

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.

Frequently asked questions

What is Roam?

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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.

What is an assumable mortgage?

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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.

Why is an assumable mortgage valuable?

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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.

Will an assumption work for me?

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An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.

Why do buyers use Roam?

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Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step. Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.

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Last updated: Oct 22, 2024 09:39 am
Listing agent: Valerie Gonzalez (678) 249-0839
Listing provided courtesy of: Keller Williams Realty (404) 541-3500
Details provided by GAMLS and may not match the public record.
MLS ID: #10397747
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of GAMLS. All real estate listings are marked with the GAMLS Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Copyright © 2024 GAMLS. All rights reserved.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 45 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$945/mo
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