5313 Highpoint Rd, Flowery Branch, GA 30542
4 beds · 2 baths · 1,716 sqft
Just Listed in the Highly Desirable Cherokee Bluff School District This unique split-level home is move-in ready and full of potential. Located near Lake Lanier and the rapidly growing Flowery Branch area, this three-bedroom, two-bathroom home offers a fantastic opportunity in a prime location. As you enter, the split-level design leads upstairs to an open-concept living room with a fireplace and a clear view into the kitchen, making it an ideal space for entertaining. A large dining area provides plenty of room for gatherings, while all three generously sized bedrooms are conveniently located on the upper level. The entire home has been freshly painted, with some touch-ups completed. The carpet will need to be replaced, which is reflected in the price. Downstairs, the remodeled laundry room and an additional upgraded room provide flexibility for various uses. The bonus room features Life Proof hardwood flooring, offering both style and durability. One of the most unique features of this home is the custom-built hidden safe room, concealed behind built-in shelving. Fully equipped with power, air conditioning, and electrical outlets, this space offers endless possibilities for storage or security. The expansive basement allows for a variety of uses and connects directly to the oversized garage for added convenience. For those seeking privacy, the fully fenced backyard is perfect for pets, children, or simply enjoying a quiet retreat. The yard features two gated entries, one on each side of the house, along with a double-door gate providing the perfect spot to store a trailer. A hammock is installed in the back corner under a tree, offering a peaceful place to relax, with an in-ground fire pit just behind it for cozy evenings outdoors. Additionally, the home includes a built-in large dog door on the back door, making it even more convenient for pet owners. Every spring and summer, a large elephant ear plant grows in the front bed, with another on the hill beside the porch, adding a natural, lush element to the landscape. The home is also wired for Fiber internet, ensuring lightning-fast connectivity for work, streaming, or gaming. Major updates include a brand-new roof and a completely replaced HVAC system, ensuring peace of mind for years to come. While the deck could use some work, the home’s potential is undeniable. With so many updates already completed, this is an excellent opportunity in a growing area.
Source: FMLS #7535959
Source: FMLS #7535959
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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 “Save search” 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 620, 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.