300 Jonesboro Rd, Mcdonough, GA 30253
5 beds · 3 baths · 3,788 sqft
Discover the perfect blend of tranquility and convenience in this stunning stand alone private lakefront home, set on one of the largest lots in the neighborhood, spanning an impressive 1.82 acres. This distinctive residence is not your typical cookie-cutter home; its architectural features include elegant arched entryways on the main, expansive rooms and bedrooms with breathtaking lake views and layouts to provide ample space for comfortable sitting and lounge areas, perfect for relaxation or entertaining..... While the home is move-in ready, it offers the opportunity for updates to reflect your personal style. This property features 5 generously sized bedrooms, 3.5 bathrooms, a 2-car garage, and a sizable driveway with ample parking for multiple vehicles. The spacious master bedroom is conveniently located on the main floor with two separate entrances, allowing direct access to the large backyard deck and the serene lake beyond...... Notable improvements and updates include new roof installed in April 2019, along with a semi-new HVAC system for efficient climate control. A new water heater was added in August 2019. Additional improvements, updates and renovations approximately two years ago with modern finishes to the kitchen, bathrooms, freshly painted throughout, custom closet units installed in the bonus room and much much more..... With its combination of comfort, space, serene lake views and potential for future investment, this property offers an exceptional living experience. Don’t miss the opportunity to make this home your own! Schedule a viewing today to fully appreciate everything it has to offer..... The home is being sold As-Is, Where-Is, with no disclosures or warranties. Proof of funds or Pre-approval are required for property viewings. Showings must be accompanied by a licensed agent. The property is currently owner-occupied, and walk-ups or previews are not permitted. Security cameras are in operation on-site.
Source: FMLS #7520243
Financials
Source: FMLS #7520243
Source: Public records
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%. 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.
Other resourcesWhat 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.