641 Scales Rd
Suwanee, GA 30024
5 beds · 4 baths · 4,490 sqft
$750,000
Get prequalifiedAbout this home
This home is the one you've all been waiting for. Make your way through the tree-lined driveway leading to its lovely private setting as the house reveals itself. Sitting back from the road makes for a fantastic oversized front yard, perfect for play. The home is located in the charming Historic Old Town Suwanee district, boasting an unbeatable location on the Suwanee Bike Path. It's also within walking distance to the town, the library, and just a short distance from Suwanee Town Center restaurants and the amphitheater. The lovely brick-front ranch sits on a special lot of approximately 2 acres, providing an easy lay of the land and potential for future building sites or development, making it a fantastic opportunity. The main level of the house features soaring ceiling heights, plenty of natural light, a primary suite on the main floor with a large closet, two additional secondary bedrooms on the main floor, an open concept, a separate dining area, and a sunroom. The home has brand-new flooring and fresh neutral paint throughout, ready for your personal touches. In addition, the home includes a finished terrace level with a full in-law apartment, perfect for multi-generational living and sound reducing barriers installed between levels. The terrace level features two bedrooms, 2 bathrooms including a large ADA bathroom, a secondary living room, a full kitchen, a second laundry area, a separate private entrance, and a private rear driveway. The terrace level is designed to provide easy ADA access throughout and would be a great income producing opportunity as well. Additional features include a new deck, elegant copper gutters, ample built-in storage space, a spacious custom laundry room, and finished bonus space over the garage, perfect for office space. The outdoor entertainment areas feature a treehouse and a social firepit area for gatherings and smores. No HOA encumbrances exist, and the property is convenient to major highways, interstates, and shopping. This fabulous property offers privacy and acreage while enjoying the perks of in-town lifestyle living.
Source: GAMLS #10355120
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FAQs
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
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