3970 Somerled Trl, Atlanta, GA 30349
4 beds · 3 baths · 2,848 sqft
Embrace luxury living or enhance your investment portfolio with this beautiful, fully renovated 4-bedroom, 3-bathroom home nestled just minutes from the vibrant Camp Creek Marketplace. Situated on a tranquil street, this property boasts both elegance and functionality, making it ideal for growing families or savvy investors. Step into the heart of the home - a sprawling, all-new chef's kitchen, equipped with top-of-the-line stainless steel appliances, sumptuous granite countertops, and abundant storage solutions. The butler's pantry provides an added touch of sophistication and convenience, ensuring your culinary space remains clutter-free. Entertain in style within the expansive great room, where soaring ceilings and floods of natural light create an inviting atmosphere for family gatherings or social events. For those seeking versatility, the sizable basement with its equally impressive high ceilings offers endless possibilities: transform it into a lively teen hangout, an inspirational craft area, or an exclusive man cave. Outside, the sizeable deck is the perfect backdrop for alfresco dining or simply enjoying the serenity of your lush backyard. This property is an exceptional opportunity that encapsulates both luxury family living and a strategic addition to any investment collection. Don't hesitate - secure this gem before it's too late!
Source: FMLS #7512896
Source: FMLS #7512896
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.
