4550 Fernbrook Pl, Cumming, GA 30040
5 beds · 4 baths · sqft
Welcome to this BEAUTIFUL 5 bed/4 bath home on a cul-de-sac in sought after BRIDLEWOOD! Huge welcoming 2 story foyer as you walk in the front door. Office with double doors, Front Den/Sitting room with a closet that could be your 6th bedroom. Walk down the hall to a separate dining room that opens to an ENORMOUS extended deck. This house is GREAT for entertaining. Kitchen has granite countertops, room for a large breakfast table and extends into the family room and more doors that lead out to the deck. 2nd floor has an OVERSIZED owner's suite with a cozy sitting area. The en-suite has double sinks, separate tub/shower, large walk-in closet. The other bedrooms have walk in closets, as well. If you need MORE space, there is an unfinished basement that is studded for a bathroom. Don't miss this home. You can't beat the location. Convenient to 400 & 369. Award winning schools, shopping, entertainment, Lake Lanier, North Ga. Mountains, Vineyards, Breweries, and so much more! Close to Cumming City Center.
Source: GAMLS #10415498
Interest rate and monthly payment estimated based on public records.
Source: GAMLS #10415498
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
What 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.
MLS ID: #10415498
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.