4799 CHAFIN POINT CT, Snellville, GA 30039
Price Reduced! This gorgeous and modern home is new on the market, in the highly desired Prescott at Mink Livsey subdivision. Extravagance awaits as you enter your spacious dwelling. It is well-appointed with formal living and dining rooms for those who love entertaining or more importantly for personal use and enjoyment! The kitchen has lots of cabinet space for storage, as well as a large island for food prep. This house definitely has room enough for all the kids and even grandkids to run around and play. Boasting 4 bedrooms on the upstairs level, you can get away from it all with an oversized main bedroom/suite, equipped with a walk-in closet and elegant bathroom! Make your way to the basement level and enter the 2 bedroom 2 bath apartment complete with its own kitchen! This is the perfect space for the in-laws, adult children with their own family or rent it out and use it as rental income to offset your monthly mortgage payment. With a full 2 bedroom 2 bath apartment containing its own kitchen downstairs, the possibilities are endless! This is the perfect house for either a single family, or a multi-generational family wanting to live close to each other but still have their own independent space. This one won't last long, schedule your showing today!
You may be able to put down less than the total down payment amount of $247,043 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
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.
MLS ID: #10360622