23 Poplar St, Porterdale, GA 30014
3 beds · 2 baths · 1,590 sqft
Great opportunity to own this completely restored historic village home and cover your mortgage at the same time. Renovated in 2019 by a licensed contractor including all plumbing and electrical with HVAC. Also, as of 2020 a new roof. Energy features include a NEST thermostat, spray foam insulation and a tankless water heater to insure plenty of water for long hot showers!! Home is divided into 2 separate living spaces. The right side (larger) is the main living space, while the smaller side can be (and has been) rented out through Airbnb. In fact, there are bookings already scheduled until December if you choose to keep them. Included in the smaller side so that you're all set to rent is all furnishings, appliances (refrigerator, microwave and coffee maker), Tempur-Pedic mattress and all linens. The home is easily changed back into a single living space (with 3 bedrooms) if desired. In the wall between the sides where a door used to be, it could be opened up to the smaller side and goes directly into the hallway. On the larger side refrigerator and washer and dryer are included. The drapes are included on the larger side as well. Codes for each entry door are included in the private remarks. Parking is on the street in front of the property and in the space behind the property (once sewer work is completed).
Source: FMLS #7402319
Source: FMLS #7402319
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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 “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?
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.
MLS ID: #7402319
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.