1 of 62
$849,000

550 Davis Rd, Fayetteville, GA 30215

4 beds · 3 baths · 3,425 sqft sqft

This beautiful 4 bedroom, 3.5 bath home truly has something for everyone. Situated on 7.25ac, this home and property has just undergone over $150k worth of improvements. The entire interior has been completely transformed and professionally done. Large family room with hardwood floors and wood-burning stove. Separate dining room plus a new hallway that was added and leads into the large and bright sunroom with newly refinished hardwood floors. The large kitchen features plenty of counter space, newly painted cabinets with hidden hinges, new tile backsplash, new range, and new LVT flooring that runs throughout the kitchen, breakfast area, laundry room, half-bath, and private office. There is all new lighting as well as electrical outlets/switches throughout. There is a primary bedroom on the main and another that could function as that upstairs. On the main, the bedroom has newly refinished hardwood floors, large WIC, and bath with tile floors and large tile shower. The upstairs has 3 large bedrooms with new paint, carpet, and lighting. Two of the bedrooms have built-in storage as well as a built-in desk area. One could be a primary suite with a private bath with beautiful new quartz counters, newly painted vanity and mirror frame, as well as new LVP flooring and reglazed tub and shower. The second full bath has LVP flooring, beautiful quartz counters, painted vanity, new lights, fixtures, and reglazed walk-in shower. New paint throughout interior as well as all exterior structures. 42x26 detached shop with plenty of possibilities. Gorgeous salt water gunite pool with a raised hot tub surrounded by a vinyl fence. There is also a pool storage shed with electrical. Additional upgrades include a new architectural roof on the main house, detached shop, and pool shed. New HVAC upstairs as well as a new mini split system for the sunroom. A new asphalt driveway from the street to the home has been resealed, and additional asphalt leading to and around the shop. The property is served by 2 wells that have both recently been rebuilt. One serves the main house and the other can be used for anything. Septic was pumped within the past year. This property has so much to offer. Don't miss out on this great opportunity. ** Less than 10 min to Trilith Studios and USA Soccer National Training Center** Please use Showingtime.

Interest rate 3
2.73%
With Roam
6.5%
The seller’s mortgage rate at the time the loan was originated.
Monthly payment 3
$843
With Roam
$1,257
Reduce your monthly payments by $414 when you assume this mortgage.
You also save $131,386 in total interest paid.

$658,706
Edit

You may be able to put down less than the total down payment amount of $658,706 and have the rest of the funds financed with a 2nd mortgage from a lender. 4

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.
Location
Details
Home
Size
3,425 sqft
Lot size
7.25 acres
Year built
1984
Type
Single Family Residence

Source: GAMLS #10383459

Loan
Remaining term
26 years, 5 months
Rate
2.73%
Monthly P&I
$843
Remaining loan balance
$190,293

Source: Public records

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?

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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?

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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?

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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?

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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?

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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.

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Last updated: Oct 23, 2024 08:01 am
Listing agent: kevin muse (678) 410-3958
Listing provided courtesy of: Harry Norman Realtors (770) 632-8526
Details provided by GAMLS and may not match the public record.
MLS ID: #10383459
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of GAMLS. All real estate listings are marked with the GAMLS Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Copyright © 2024 GAMLS. All rights reserved.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 45 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$843/mo
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