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$385,000

4734 BROOKWOOD PL, Atlanta, GA 30349

4 beds · 2 baths · 2,909 sqft

Welcome to 4734 Brookwood Place! With nearly 3,000 square feet of living space, this gorgeous South Fulton home is both charming and spacious. Plus, its roof was replaced in 2023! Upon entry you will be wowed by its open design enhanced by stylish arched walls, custom light fixtures, and high ceilings. Its mocha colored hardwood flooring and kitchen cabinetry provide the perfect palette for its new owners to continue its legacy of tasteful interior design. Complete with an island and pantry closet, its large kitchen is an entertainer's dream. It has loads of storage space, features gleaming granite countertops, stainless steel appliances, premium backsplash, and has direct views to the fully-fenced backyard and cozy family room, which is equipped with an easy to light fireplace. Enjoy hours of natural sunlight flowing from insulated window panes, while keeping the temperature just right with two dual-zoned HVAC units. Leading to the upper level is a staircase with wrought-iron spindles. Each of the three generously sized secondary bedrooms come with vaulted ceilings. The expansive owner's suite features double tray ceilings, a quiet sitting area, and four large windows. Its bathroom features vaulted ceilings, two individual vanities, two spacious closets, separate travertine tiled shower and tub, and a private toilet room. Professional landscaping is one of many features that make the exterior of the home just as impressive. Out back there is plenty of space for cookouts, gardening, and playing. A stamped concrete walkway leads to the entrance of an oversized backyard deck upgraded with durable Trex decking boards, wrought iron railing, and solar powered deck post lighting. Minutes away from shopping, dining, highway entrances, and the airport, this home is a must-see!

Interest rate 3
5%
With Roam
6.5%
The seller’s mortgage rate at the time the loan was originated.
Monthly payment 3
$1,761
With Roam
$2,056
Reduce your monthly payments by $294 when you assume this mortgage.
You also save $97,853 in total interest paid.

$68,540
Edit

You may be able to put down less than the total down payment amount of $68,540 and have the rest of the funds financed with a 2nd mortgage from a lender. 4

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.

Location

Details

Home
Size
2,909 sqft
Lot size
0.138 acres
Year built
2017
Type
Single Family Residence
Loan
Remaining term
27 years, 8 months
Rate
5%
Monthly P&I
$1,761
Remaining loan balance
$316,459

How it works

Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.

Tour

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.

Offer

Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.

Close

Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.

Who can qualify

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.

Frequently asked questions

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.

Will an assumption work for me?

An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.

Why do buyers use Roam?

Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.

Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.

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Last updated: Sep 18, 2024 09:32 am
Listing agent: patrick walters (678) 939-1941
Listing provided courtesy of: Keller Williams Realty (678) 631-1700
Details provided by GAMLS and may not match the public record.
MLS ID: #10368360
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of GAMLS. All real estate listings are marked with the GAMLS Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Copyright © 2024 GAMLS. All rights reserved.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 45 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$1,761/mo
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