371 Kite Lake Rd, Fayetteville, GA 30214
4 beds · 3 baths · 2,718 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Unbelievably rare opportunity to own 5 secluded acres in Fayette County, a 4 bedroom/2.5 bathroom updated home with double garage/workshop, attached 4-vehicle carport, and a separate small utility shed complete with water and electricity. The opportunities for this property are endless. A 2-story foyer and original hardwoods with square nails welcome you into the main level featuring a double story great room with stone fireplace and access via French doors to a side patio, an open kitchen with access to the fenced backyard, a half bathroom for guests, and a separate dining room. A large mudroom/walk-in pantry leads out to the 2-car garage, both with added width and length which allows ample room for a workshop and a partial bathroom used as a pet washing station. Upstairs the massively oversized primary bedroom has its own stone fireplace, walk-in closet, and ensuite bathroom. Three more bedrooms, a laundry room, and a full bathroom are on the second floor. All of this is on 5 unbelievably secluded acres of land with access to a creek coming from Kite Lake. From the large workshop to the unlimited room for vehicles to the additional building/potting shed that could be converted to an ADU to the secluded 5 acres . . . all within 10 miles of the airport and 20 minutes from downtown, this is a home that you must see!
Source: FMLS #7546829
Source: FMLS #7546829
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 and Equal Opportunity Act.