5705 Mountain Cres, Stone Mountain, GA 30087
4 beds · 3 baths · 2,354 sqft
BRIGHT AND BEAUTIFUL Family Home in Prime Community! This well-maintained residence offers exceptional living in a desirable neighborhood. Step inside to discover a flowing floor plan anchored by an expansive living room that connects to an eat-in kitchen with white cabinets and stainless steel appliances. The stunning sun roomCobathed in natural light year-round, creates a perfect retreat for morning coffee, relaxing with a book, or nurturing indoor plants. This versatile space opens to a spacious deck, perfect for grilling and outdoor entertaining! Four generously-sized bedrooms provide ample personal space. Primary suite with trey ceiling and en-suite bath includes dual vanity sinks, garden tub, and separate shower. The home's practical amenities include a dedicated dining room, convenient upstairs laundry room and additional parking area. Outside, enjoy the peaceful backyardCoideal for pets and family activities. Located in a friendly, established community with easy access to highways. An ideal forever home offering comfort, style, and functionality for today's family!
Source: GAMLS #10482494
Financials
Source: GAMLS #10482494
Source: Public records
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%. 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.
Other resourcesWhat 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.