5540 Wood Falls Dr, Buford, GA 30518
5 beds · 4 baths · 4,817 sqft
Welcome to 5540 Wood Falls Drive, an exceptional 5-bedroom, 4.5-bathroom home in the top-rated BUFORD CITY SCHOOLS DISTRICT. Built in 2022, this 4,817 sq. ft. estate sits on a 1.12-acre lot and offers a perfect blend of elegance, comfort, and privacy. Step inside through the grand two-story foyer, where an open-concept design seamlessly connects the formal living room, dining room, and great room. The gourmet kitchen is a chef's dream, featuring stainless steel appliances, granite countertops, white cabinetry, a gas stove, and a beautiful tiled backsplash. A separate breakfast area provides the perfect spot to start your day while overlooking the backyard oasis. The main-level primary suite is a true retreat, boasting an extended sitting area with private patio access, a spa-like en-suite bathroom with a soaking tub, separate shower, dual vanities, and an oversized walk-in closet. Upstairs, you'll find four additional bedrooms, including a mini-suite with a private full bath and a secondary suite with a private full bath and a very spacious walk-in closet ideal for guests or multi-generational living. A spacious media room offers endless possibilities for a game room, home theater, or additional lounge space. Outdoor Paradise - Your Private Resort Step outside to your private backyard sanctuary, featuring a 20x40 in-ground gunite pool with a spa, perfect for relaxation or entertaining. The mature trees and full privacy fence create a serene, resort-like retreat, allowing you to unwind in total seclusion. Prime Location in Buford This home is nestled in an award-winning school district and is just minutes from Lake Lanier, historic downtown Buford, top-rated restaurants, shopping, and major highways. Don't miss this rare opportunity to own a luxury home with a private pool & spa in one of Georgia's most desirable areas! Schedule your private tour today.
Source: FMLS #7546846
Financials
Source: Public records
Source: FMLS #7546846
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.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.