5218 Parham Pl SW, Lilburn, GA 30047
3 beds · 3 baths · 3,539 sqft
Discover the perfect blend of luxury and functionality in this rare 3-bedroom, 3.5 bathroom custom ranch home on a finished basement. The basement has many rooms there is also a room that can easily be used as a 4th bedroom. Ideally situated on a corner lot in a quiet cul-de-sac within a serene subdivision. Located in the coveted Park View High School district, this four-sided brick home is designed with all the right touches to create a comfortable and elegant living experience. The spacious main level opens to high ceilings and hardwood floors throughout. As you enter the home you are greeted with an open floor plan, formal dining room, family room and kitchen with solid wood cabinets beautiful finishes. The main level has ample space for relaxation and entertainment. Enter the private deck from the family room to enjoy your private oasis. The backyard offers a peaceful retreat, ideal for relaxing or hosting gatherings with family and friends. Fall in love with this primary bedroom is large with a separate tub and shower and two walk in closets. Laundry room is also on the primary level convenient to the primary bedroom. The expansive basement provides endless possibilities with ample space for living, entertainment, and storage. It includes a fireplace, finished full bath and is prepped with the connections to complete your kitchen. This space is perfect for creating an in-law suite or hosting guests. The property also features a large driveway with access to both the front and rear of the home, offering plenty of parking and easy entry. 2 car garage with side entry. This home is a MUST SEE. Don't miss your opportunity to own a piece of luxury in a community known for its schools, parks and convenience.
Source: GAMLS #10364021
Interest rate and monthly payment estimated based on public records.
Source: GAMLS #10364021
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: #10364021
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.