3253 Brookshire Way, Duluth, GA 30096
4 beds · 3 baths · 3,160 sqft
Beautifully maintained two-story home with a fully finished basement, offering exceptional living space and modern updates. The main level features elegant wood flooring, a bright kitchen with white cabinetry, granite countertops, and newer appliances, including a double oven. Ample storage throughout the home. Huge Deck view to wooden, The spacious, fully finished basement provides additional living or entertainment space. A unique stairway from the kitchen leads to a newly finished bedroom, while another upstairs stairway offers access to attic space, which could serve as a fifth bedroom. New HardiePlank cement-type siding was installed at the end of 2009 (installed by the previous owner). Enjoy a long driveway and a short walk to community amenities, including a pool, tennis courts, and lake access. Located in the highly sought-after Norman Downes neighborhood, just minutes from Downtown Duluth’s premier shopping, dining, and entertainment options. Conveniently situated with a park and school right across the street.
Source: FMLS #7549155
Financials
Source: FMLS #7549155
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.