402 Mill Pond Rd, Roswell, GA 30076
2 beds · 2 baths · 1,444 sqft
Stunning 2BR/2BA Condo in Prime Location with Lake Views & Resort-Style Amenities! This beautifully designed 2-bedroom, 2-bathroom condo nestled in the tranquil community of Hidden Lake, offers an ideal roommate/in-law floor plan with an open-concept layout, perfect for comfortable living and entertaining. Located just minutes from downtown, this home provides easy access to GA-400, top-rated schools, parks, shopping, dining and more. Features include hardwood floors throughout main living area, a sunroom, serene lake views, and a cozy stacked stone fireplace in the spacious living area. The walk-in closets in both bedrooms offer ample storage, while the elegant tile details add a touch of sophistication. Enjoy the spacious deck with access from the sunroom and secondary bedroom, as well as sitting porch overlooking the lake. Interior furnishings available thru separate bill of sale. Enjoy community amenities, including a pool, tennis courts, gazebo and swings around the lake with scenic views. This exceptional home combines tranquility with convenience in a highly sought-after location. Don't miss out-schedule your showing today!
Source: GAMLS #10485781
Financials
Source: GAMLS #10485781
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.