57 Terrace Ridge Dr, Commerce, GA 30529
4 beds · 2 baths · 2,287 sqft sqft
Welcome to your dream home! This stunning four bedroom home features an open floor plan with a full daylight basement offering ample space and natural light. The main level has elegant and durable solid oak hardwood floors, high ceilings, brick surround fireplace in family room, open concept kitchen with pantry and eat-in breakfast area, plus a formal dining room. Off of the kitchen there is a HUGE flex space which can be used as an office, gym or theatre room. The primary suite is on the main level and offers trey ceilings, a large walk-in closet, an ensuite with tile floors, double vanity, separate shower and soaking tub. The main level also features two additional bedrooms, a laundry room, and an additional full bath. Upstairs is the oversized fourth bedroom with closet, plus access to the walk in attic. The basement is the same footprint of the home and is already plumbed for a full bath and kitchen and stubbed throughout. The basement also features a separate HVAC system. There is an exterior side entry making this great for an in-law suite or roommate plan. New HVAC on the main level. New privacy fence, and roof is less than 5 years old! Covered porch and the backyard is fully fenced and has tons of space for entertaining. Conveniently located to the subdivision pool and playground, ideal for family fun. This home really has it all. More square footage for the money! If you finish out the basement you have the potential to have a 4000+ sf home. Centrally located in Commerce, and minutes from Hwy 441, & I-85 for easy commute. Call today for a private tour!
Source: GAMLS #10346743
Interest rate and monthly payment estimated based on public records.
Source: GAMLS #10346743
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.
Will an assumption work for me?
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?
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.
MLS ID: #10346743