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$467,500

1151 Malibu Dr, Marietta, GA 30066

4 beds · 2 baths · 2,313 sqft

Don't miss out on this beautiful property in sought after East Cobb! If you are dreaming of floating in your private pool, then ready to dive-in to worry-free living with this updated and stunning 4-bedroom split-level home featuring modern finishes with a private oasis and in-ground pool in the backyard. Nestled in a quiet neighborhood with no HOA, this home offers the perfect blend of comfort and contemporary style in an area growing in popularity! Upon entering the open-concept main living area, you are greeted by abundant natural light streaming through large windows, highlighting the spacious living and dining areas. The kitchen, equipped with stainless steel appliances and sleek quartz countertops, is perfect for culinary enthusiasts and entertainers alike. Off the kitchen is a massive space perfect for a pantry, mudroom, or even a flex space. Attached to this space is a generously sized laundry area. Throughout the home there is luxury vinyl plank flooring that can hold up to the busiest house and pets! The upstairs level features 2 large bedrooms with plenty of windows and closet space. The primary bedroom also features an updated primary bathroom. The hallway bath has also been updated and has a nice sized linen closet with an additional linen closet in the hallway. Downstairs, the bright and newly finished walk-out space provides additional flexibility, ideal for a family room, and an additional bedroom that can also serve as a home office, or gym, offering endless possibilities to suit your lifestyle needs. Step outside into your own private retreat—a large fenced-in and manicured backyard complete with a sparkling pool and brand-new deck for entertaining and relaxing surrounded by gorgeous landscaping. Whether you're relaxing poolside with a book or hosting gatherings with friends and family, this space promises memorable moments year-round. Great features in this home that add to its move-in and worry-free living include: new pool liner, new pump housing for the pool, encapsulated crawl space and dehumidifier, newer AC unit and water heater (2022), new quartz countertops, new refrigerator, and new dishwasher. It also sits at the end of the street with no through traffic. New and updated luxury vinyl flooring throughout the entire house and gorgeous modern five panel doors complement each living space. Located conveniently near transportation, major highways, schools, parks, and shopping, this home offers both tranquility and accessibility. Don’t miss the opportunity to make this updated, split-level gem your own.

Interest rate 3
2.9%
With Roam
7%
The seller’s mortgage rate at the time the loan was originated.
Monthly payment 3
$1,471
With Roam
$2,262
Reduce your monthly payments by $791 when you assume this mortgage.
You also save $253,289 in total interest paid.

$139,902
Edit

You may be able to put down less than the total down payment amount of $139,902 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
Lot size
0.3421 acres
Year built
1972
Type
Single Family Residence

Source: FMLS #7417050

Loan
Remaining term
26 years, 8 months
Rate
2.9%
Monthly P&I
$1,471
Remaining loan balance
$327,597

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.

How can you find assumable mortgage listings?

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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 “Get Notified” 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.

How do I qualify for an assumable mortgage?

expand content

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.

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Last updated: Dec 03, 2024 12:11 pm
Listing agent: Pamela Greiner
Listing provided courtesy of: The Beeman Group, LLC (404) 775-3995
Details provided by FMLS and may not match the public record.
MLS ID: #7417050
Listings on this website come from the FMLS IDX Compilation and may be held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work, please visit https://www.fmls.com/dmca.htm to review our DMCA policy and learn how to submit a takedown request. © 2024 FMLS.
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 30 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.
$1,471/mo
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