7133 GLEN COVE LN, Stone Mountain, GA 30087
Welcome home! This beautiful luxury, Waters Edge lake subdivision home offers 300 square feet of living space, including 5 bedrooms, 4 full bathrooms. This home is fully renovated with upgraded open floor plans. It has new architectural single roof, new HVAC, new paint inside and out side , new water resistance venal flooring through out the whole house. The dinning room is open and spacious with a trey celling , New quartz kitchen countertop with matching new back flash and white cabinets, new 30 inch gas downdraft stainless steel cooking top with 4 burners, new 30 inch electric build in wall mounted oven and microvan, new stainless steel dishwasher. The kitchen has resist light with 11 Feet high celling. Bathroom's are upgraded with nice sparkling quartz counter top with new fossette, new sinks, new shower heads , new tiles flooring with modern vanity lights. The master bathroom is 11 feet high vaulted celling. Master bath has double vanity and built in over size Jacuzzi glass window with panoramic views. The oversize master bedroom is 11 feet high celling. 2nd master has attached bathroom use as an in-law suite. Gas starter fireplace in the living room. light fixtures are new inside and outside of the home. Neighborhood amenities including a large club house , meeting room with pool , lighted 6 tennis courts, fishing dock, boating facility in your own subdivision lake, close to shopping, grocery and restaurant. New Alarm system
You may be able to put down less than the total down payment amount of $215,589 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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: #7403194