200 The Abbey
Mcdonough, GA 30253
4 beds · - baths · -- sqft
$495,000
Get prequalifiedAbout this home
With No HOA or extra fees, Welcome home to a spacious traditional, four-sided brick home, offering ample living space inside and out. With its inground outdoor Pool and spa, converted shed with air and power, new carpet, fresh paint, along with an open concept layout inside, this home and all its upgrades scream this is the one! The home features four well-appointed bedrooms, three full bathrooms, a half bath on the main along with the owner's suite, keeping room, separate family room, dining room, and eat-in kitchen with an island. Sitting on approximately one acre of land, with a beautiful inground pool this home provides ample room for outdoor activities and relaxation. The layout of this property is designed to maximize comfort and functionality with its beautiful tile and wood flooring throughout. The bedrooms are generously sized, offering privacy and comfort. The property's lot size allows for a variety of potential uses, such as gardening, entertaining, or expanding the living space. The size and configuration of the lot can be versatile, accommodating the needs and preferences of all new owners. Overall, this house presents an opportunity for those seeking a spacious and well-maintained living environment with the added benefit of a sizable lot for personal enjoyment, potential future development and a small neighborhood located in the well sought after Union Grove School district.
Source: GAMLS #10390443
Neighborhood
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.
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