540 Basil Ct SW, Marietta, GA 30064
5 beds · 2 baths · 3,902 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Welcome to 540 Basil Court SW, Marietta, GA 30064 in the sought after swim and tennis community of Lee's Crossing. Located close to the historic Marietta Square, I-75 expressway and the award winning Marietta City Schools. This beautiful two-story home is sitting on a gorgeous .51 acre lot in the cul-de-sac, which backs up to a lovely creek and has a wooded, backyard view. New carpet & paint on the first and second level. Full finished, daylight basement with one room of unfinished storage. The main level has a formal living room, formal dining room, family room with a gas log fireplace and door to the large deck, half bath for guests, breakfast room, kitchen with window, island, granite countertops, new microwave, and mudroom/laundry room with cabinets. The second level has 4 bedrooms and 2 full bathrooms. The master bedroom has treyed ceilings, a fireplace, and double doors that open to the master bathroom with a jetted, garden tub, separate shower and dual vanities. The secondary bedrooms are all spacious. The finished basement has 3 finished rooms and 1 unfinished room. One room in the basement is setup as a bedroom or a bonus room. The seasonal views from the large deck are beautiful. This is the perfect family home.
Source: GAMLS #10493191
All values shown are estimated costs / mo.
Source: Public records
Source: GAMLS #10493191
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.
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.
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.
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.
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.
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.
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.