300 Island Cove Dr, Newnan, GA 30263
4 beds · 6 baths · 8,560 sqft sqft
Welcome to 300 Island Cove Drive, a magnificent all-brick, stately waterfront home situated on a sprawling 1.56-acre estate lot in the Lake Redwine Plantation Community. This grand residence features a sweeping circular drive and stunning, immense big water views. With 4 bedrooms and 5.5 bathrooms, this home offers an unparalleled blend of luxury and comfort. Upon entering this ranch style home, you are greeted by an incredible marble entry foyer that sets the tone for the rest of the home. The exquisite architectural details include extensive custom hand-carved moldings and trim, arches, coffered, and tray ceilings, and custom lighting throughout. The home boasts a library for quiet retreats or a home office and an expansive chef's kitchen complete with a granite island, 5-burner cooktop, Sub-Zero refrigerator, and a convenient coffee bar. The elegant formal dining room, which seats 12 or more, is perfect for hosting dinner parties and family gatherings. The fabulous great room and living room both offer breathtaking lake views and custom ceiling beams, with gleaming hardwood floors adding warmth and sophistication throughout the home. The primary suite is a luxurious oasis, featuring a sitting area and dual ensuite bathrooms. Additionally, the fully finished basement adds an additional 4,000+ square feet of living space that can be accessed via elevator or stairs. In the basement, there is an au pair suite with a full kitchen, bedroom, and living space, providing the perfect accommodation for guests or extended family. Experience the perfect blend of luxury, comfort, and stunning natural beauty at 300 Island Cove Drive. This exceptional property is a rare find, offering an unparalleled lifestyle on the shores of Lake Redwine Plantation. DonCOt miss the opportunity to make this magnificent home your own.
Source: GAMLS #10345062
Interest rate and monthly payment estimated based on public records.
Source: GAMLS #10345062
Source: Public records
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: #10345062
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.