253 N Gwinnett St
Buford, GA 30518
4 beds · 3 baths · 2,196 sqft
$524,750
Get prequalifiedAbout this home
Welcome to your virtually brand new home... a corner lot in the extremely sought after city of BUFORD and it's BUFORD city schools! This two-story partial brick & concrete siding home is perfect for your family with no HOA & is located within walking distance of the awesome city of BUFORD and its historic downtown. Everyone knows of the exclusivity that the city of BUFORD brings. Amazing schools, sports, recreation, shopping, dining, and so much more! Be sure not to miss the photos of just some of the city amenities. There's even a new high school stadium recently built that had a cost of about $62 million. The main-level of this home features an open-concept style living with a modern white kitchen, equipped with stainless steel appliances, a large, walk-in pantry with barn door. In fact, there are barn doors throughout the house, which adds a great farmhouse feel. This home built in 2019 has been meticulously cared for and is like new construction. There is a large, two car garage with lots of overhead storage built-in. Just off the kitchen outside is a perfect deck area to enjoy your morning coffee. As you ascend up the stairs to the bedrooms, there is a large landing area with access to all four bedrooms and convenient, laundry location for all. This house and its location has so much more to offer. This is a must see, especially for those who want to be in the BUFORD city schools. Our preferred lender is even willing to offer up to $4000 credit towards closing costs. Please enquire about the 2.49% FHA Assumable Loan
Source: GAMLS #10341379
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.