712 Copper Trace Way, Woodstock, GA 30189
3 beds · 2 baths · 1,358 sqft
This estate-owned property is being sold as-is, providing a unique opportunity for you to personalize and update the home to match your vision and style. With a little imagination and your personal touch, this home can become your own masterpiece. Step inside to discover a warm and inviting atmosphere, with expansive living areas that boast hardwood floors gleaming under natural light. The layout seamlessly connects the living room, dining area, and kitchen, making it perfect for entertaining friends and family. Imagine curling up with your loved ones on chilly evenings beside the cozy wood-burning fireplace, creating unforgettable memories in the heart of your home. This central feature enhances the inviting ambiance of the living room, making it an ideal spot to unwind after a long day. The home boasts several spacious bedrooms with a primary bedroom and private shower-only bath. The additional bedrooms share a spacious full bath. With large windows offering picturesque views of the surrounding landscape, these rooms are bright and airy, ensuring restful nights and rejuvenating mornings. There is a newer TRANE HVAC at the property and a whole house attic fan. Convenience is key with the drive-under 2 1/2-car garage, providing ample storage and easy access to your vehicles. No more scraping off the ice in winter or braving the rain when you come home—just drive right in! Step outside onto your expansive level backyard, perfect for summer barbecues, gardening, or simply soaking in the sun. The property’s generous lot offers plenty of space for outdoor activities, while the mature trees provide a natural backdrop that enhances your privacy.
Source: FMLS #7543918
Financials
Source: Public records
Source: FMLS #7543918
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.