1 of 50
$375,000

120 HAMILTON LAKE VIEW CT, Lagrange, GA 30241

4 beds · 2 baths · 2,011 sqft

***BUILT IN 2019, THIS HOME IS PRACTICALLY NEW***SELLER OFFERING $5K TOWARD BUYERS CLOSING COST & THIS HOME IS IN USDA (100% FINANCING) AREA***LARGE FRONT YARD WITH LONG DRIVEWAY LEADS YOU TO A BEAUTIFUL CULDESAC LOT***THE SOFT PAINT COLOR OF HOME MAKES YOU FEEL SO AT PEACE***COVERED FRONT PORCH SAYS "WELCOME" AND LEADS YOU TO THE FOYER ENTRANCE THAT OVERLOOKS FORMAL DINING ROOM ALONG WITH FAMILY ROOM**FAMILY ROOM HAS STACK STONE WOOD BURNING FP**KITCHEN HAS BREAKFAST BAR AND BREAKFAST NOOK, GRANITE COUNTER TOPS, STAINLESS APPLIANCES, PANTRY AND OF COURSE THE EVER SO POPULAR WHITE SHAKER CABINETS**THE MUD ROOM HAS CUSTOM SHELVING OVER WASHER/DRYER AND ADDS EXTRA SPACE FOR PANTRY OVERFLOW***MASTER ON MAIN IS A REALLY NICE SIZE**MASTER BATH WITH DOUBLE VANITY, LARGE SOAKING TUB AND SEP SHOWER***MASTER CLOSET HAS EXTRA SHELVING ADDED AS WELL***SPLIT BEDROOM PLAN MEANS KIDS ARE ON THE OTHER SIDE OF FAMILY ROOM**2 BEDROOMS ON MAIN WITH ANOTHER FULL BATH AND THEN TRAVEL UPSTAIRS TO 4TH BEDROOM, 2 CLOSETS AND MORE ATTIC STORAGE***THE GARAGE WILL MAKE YOUR HUSBAND SAY YES TO THIS HOUSE!!! CABINETS, SHELVING AND A WORKBENCH THAT WILL REMAIN AFTER CLOSING***COVERED BACK PATIO OVERLOOKS REALLY BIG BACK YARD THAT IS COMPLETELY FENCED WITH WOOD FENCING FOR PRIVACY***IT WILL KEEP THE KIDDOS & PETS NICE AND SAFE***LOTS OF EXTRA SHELVING & TRIM ADDED TO HOME BY OWNER***YOU COULD NOT ASK FOR A BETTER HOME, IN A REALLY NICE NEIGHBORHOOD, GREAT SCHOOL DISTRICT AT A BETTER PRICE***ONLY MINS. TO THE INTERSTATE!!!ASK ABOUT A LENDER CREDIT WITH PREFERRED LENDER***

Interest rate 3
3%
With Roam
6.5%
The seller’s mortgage rate at the time the loan was originated.
Monthly payment 3
$1,016
With Roam
$1,460
Reduce your monthly payments by $443 when you assume this mortgage.
You also save $137,587 in total interest paid.

$155,949
Edit

You may be able to put down less than the total down payment amount of $155,949 and have the rest of the funds financed with a 2nd mortgage from a lender. 4

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
2,011 sqft
Lot size
0.78 acres
Year built
2019
Type
Single Family Residence
Loan
Remaining term
25 years, 10 months
Rate
3%
Monthly P&I
$1,016
Remaining loan balance
$219,050

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?

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?

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?

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?

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?

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.

View all FAQs
Last updated: Sep 18, 2024 09:54 am
Listing agent: Suellen Cofield (678) 378-7240
Listing provided courtesy of: Southern Real Estate Properties (770) 755-6080
Details provided by GAMLS and may not match the public record.
MLS ID: #10325611
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.
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.
$1,016/mo
View details