398 New Hope Rd, Ellijay, GA 30540
4 beds · 3 baths · 4,112 sqft
Welcome to this beautifully renovated Southern Living-style home, offering stunning 360-degree seasonal mountain views in a private setting just minutes from downtown Ellijay! This 4BR, 3.5-BTH home radiates Southern charm and character in every detail. Nestled within a meticulously landscaped yard, you'll enjoy vibrant perennials. A winding concrete driveway leads to ample parking & 2 car garage, located just off the kitchen area. A concrete sidewalk guides you to the covered rocking-chair front porch. Step inside to discover a spacious living room featuring a brick gas-log fireplace. This home includes custom pine flooring & ceilings, abundant recessed lighting, & updated wainscoting throughout. The dining area offers generous space for entertaining, highlighted by a charming bay window overlooking the picturesque front yard. The kitchen features stainless steel appliances, five-burner gas cooktop, built in microwave, custom cherry bar area, an updated wooden vent hood, and abundant cabinet space. A Butler's Pantry allows for additional cabinet space & includes a pantry with sliding doors. Adjacent to the kitchen, a cozy breakfast/sitting area w/ a bay window provides a perfect spot to enjoy the seasonal mountain views. This space connects to an updated laundry room addition. A powder room is conveniently located off the living room. The oversized master suite on the main boasts an electric fireplace, a spacious walk-in closet, & a fully renovated en-suite bathroom featuring a large walk-in shower. Ascend the renovated wooden staircase to discover two generously sized bedrooms, a full BTH with a double vanity, & a large storage room that can serve as an office or additional storage space. The partially finished daylight basement offers additional living space, including a large family room, a kitchen, guest bedroom, & a full BTH w/ a single vanity. The unfinished portion provides a massive storage area w/ laundry. Outside, enjoy a custom garden area and large workshop.
Source: FMLS #7532067
Interest rate and monthly payment estimated based on public records.
Source: FMLS #7532067
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.