518 Wayside Rd NE, Rome, GA 30161
3 beds · 1 baths · 1,367 sqft
Welcome to your new home! This delightful 3-bedroom, 1 full bath residence offers a perfect blend of comfort, style, and outdoor enjoyment. Step inside to find a spacious, open-concept kitchen and dining area, ideal for both everyday living and entertaining. The kitchen boasts new bottom cabinets and sleek countertops that beautifully complement the coffee bar—perfect for your morning brew or evening gatherings. From the kitchen, step out onto the back deck, where you can soak in the peaceful wooded atmosphere. The current owners have cherished this space, often hosting karaoke nights and even the occasional dance party under the stars. It’s an outdoor oasis you’ll love to call your own. The fenced-in side yard provides a secure space for pets, kids, or simply relaxing with friends and family. With an architectural roof that's just 2 years old and several updated windows, and brand new gutters, this home combines both charm and practicality. Don’t miss out on this gem that’s ready to welcome its next owners! Sellers have a transferable Home Warranty they pay $65 per month for, buyer would be responsible for home warranty each month per home warranty company, Termite Bond, and Warranty on new HVAC.
Source: FMLS #7441009
Source: FMLS #7441009
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: #7441009
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.