705 Gilmore St, Waycross, GA 31501
5 beds · 4 baths · 5,839 sqft sqft
An 1880 Historic Home located in the historic district of Waycross, Ga. There is something ineffably serene about this house. Your buyer's eye will delight in the detail of the solid mantel pieces that rest above the seventh fireplaces, the perfectly chosen artwork redolent of along-ago, somehow simpler, time and the light...always the glorious abundance of light that fills the house. The home has five bedrooms, four full bathrooms, a formal dining room and dining room and 2 comfortable living rooms. While the home has been modernized (central heating and air conditioning, modern kitchen, and more), one can still appreciate the original details of hardwood floors, large windows, dramatically high ceilings, and two large porches - all surrounded by a.45 acres of nature with a little TLC, your can add your person touch. Seller will contribute up to $10,000 towards buyers Closing cost with a full-price offer.
Source: GAMLS #10316833
Interest rate and monthly payment estimated based on public records.
Source: GAMLS #10316833
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: #10316833