1514 Kelleys Close, Stone Mountain, GA 30088
3 beds · 3 baths · 2,266 sqft
Charming 2-Story Home with Spacious Living in Prime Location! Nestled in a quiet neighborhood just minutes from downtown Stone Mountain and the iconic Stone Mountain Park, this beautifully maintained 3-bedroom, 2.5-bathroom home offers the perfect blend of comfort and convenience. Upon entering, you're greeted by a bright, two-story living room that fills the space with natural light, creating an inviting atmosphere for both relaxation and entertaining. The master bedroom is a tranquil retreat with elegant tray ceilings, enhancing the room’s appeal. The en-suite master bathroom features a spacious dual vanity, perfect for shared use, as well as a large soaking tub and separate shower. The kitchen is a nice highlight, complete with a charming bay window that fills the room with natural light. Additionally, the kitchen includes a generous eat-in area, ideal for family meals or casual dining. With a nice size Pantry! This home also offers two cozy fireplaces, adding warmth and ambiance to both the living room and the family room. Upstairs, a versatile loft area can easily be transformed into a home office, playroom, or reading nook. Outdoors, enjoy the large patio, perfect for your family and friends gatherings or quiet relaxation as you desire. Conveniently located near parks, restaurants, and with easy access to a bus line, this home is in an ideal location for both work and leisure. With quick access to Stone Mountain Park and downtown Stone Mountain, you’ll have everything you need at your doorstep. Schedule a tour today!
Source: FMLS #7531244
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Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: FMLS #7531244
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
How can you find assumable mortgage listings?
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.
How do I qualify for an assumable mortgage?
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 620, 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.