230 Winnipeg Ln, Alpharetta, GA 30022
5 beds · 4 baths · 3,414 sqft
Welcome to this spacious 5-bedroom, 3.5-bathroom home in the desirable Wynbrook neighborhood of popular Alpharetta/Johns Creek. This is a fantastic opportunity to buy below neighborhood comps! This cul-de-sac home is spacious with a great floorplan and ready for your cosmetic updates! Entering the home you will find a large entryway with a dining room and living room, as well as a huge 2 story great room with the most spectacular window that overlooks beautiful trees in the backyard. The home has lots of windows throughout, allowing for tons of natural light. The kitchen is open to the living area, has a nice flow with a breakfast bar and a eat-in dining area. The laundry room can also be found on the main floor, along with a half bathroom. Upstairs, you'll find the oversized master bedroom with a fireplace and a large master bathroom providing a relaxing retreat. Also upstairs are 3 additional bedrooms and a full bathroom, perfect for family or guests. The finished basement includes another bedroom and full bathroomCoideal for an in-law suite. This great floor plan is ready for some cosmetic updates and a little TLC, making it a perfect canvas for your personal touch. Enjoy easy access to great schools, parks, shopping, and GA-400, plus a neighborhood playground for the kids. This home is estate owned and is an "as-is" sale. The home is 3,414 sq ft. PLUS a full finished basement. Finished basement square footage is approximately 1,400 sq ft. and not reflected in tax records. Buyer to verify square footage.
Source: GAMLS #10382886
Source: GAMLS #10382886
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.
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 “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.
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