2840 Ivy Mill Dr, Buford, GA 30519
4 beds · 4 baths · 2,674 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Welcome to your future real estate adventure at 2840 Ivy Mill Drive in Buford, GA! This delightful property offers a wonderful opportunity to put your personal touches to create a space just for you or to kickstart your real estate investment portfolio! Set within the top rated Ivy Creek Elementary School and Seckinger High School district, the home offers spacious interiors and a large, level lot. The Current Owners have been meticulous in managing the upkeep of the home and specifically it's major mechanicals of the home - including a new $10,000 Septic System installed by Banks Septic in 2024, new Hot Water Heater, new backyard deck in 2025, and electrical panel upgrades and enhancements in 2023! Inside, you'll find four bedrooms and two and a half bathrooms, perfect for all your needs. The home boasts all new carpeting in secondary bedrooms and stairs, a partially finished basement with all HVAC and electrical installed including a finished third full bathroom and double door access to the backyard. Previous owners updated kitchen to include white painted cabinets and granite countertops. This home offers a unique chance to put your personal touch on a property in the highly desirable Ivy Creek Elementary and Seckinger High School District in Gwinnett County. Whether you're looking for a place to call home or an entry point into the rental market, this property is brimming with potential. Don't miss out on this wonderful opportunity! Seller is motivated and willing to provide a one-year Home Owner Warranty as well as potential Seller Concessions with a strong offer! Another advantage is the home's location! It is conveniently located close to shopping, dining, and recreational amenities - as well as access to I-85, Hamilton Mill, Buford Highway, Lake Lanier Islands, Chateau Elan and more!
Source: GAMLS #10488617
All values shown are estimated costs / mo.
Source: Public records
Source: GAMLS #10488617
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.
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.
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.
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.