725 Bishop Rd, Luthersville, GA 30251
4 beds · 3 baths · 4,030 sqft
Discover Tranquility in Luthersville: Expansive One Level Home With a Full Basement on 5.58 Partially Wooded Acres! This enchanting 4-bedroom (plus 2 bonus rooms,) 3-bathroom home offers serene privacy just 45 minutes from Hartsfield-Jackson International Airport. Located 25 minutes from Newnan Walmart and 35 minutes from West Point Lake, this spacious property combines the charm of country living with convenient access to modern amenities. The main floor features a bright and spacious family room with a beautiful wood burning stove, an open kitchen with real oak cabinetry, and a cozy breakfast nook. The master suite, along with 3 additional bedrooms and a guest bath, all located on the main floor, provides ample space for a growing family. Your master bathroom includes his and her walk in closets, a garden tub for soaking in after a long day, and a separate shower. Enjoy the ease of laundry day with a sizable mudroom that leads to the backyard. Step outside onto the large front porch, perfect for evening relaxation in a rocking chair. The backyard invites you to unwind in a peaceful gazebo or get creative in the expansive 60x60 workshop with an attached 16x20 lean-to. Don't forget about the creek that runs across the corner of the property. Downstairs, a fully finished basement with a large living room, two bonus rooms, a storage room, one bathroom, a second laundry room, and a second kitchen offers an excellent rental opportunity, currently generating $1,100 per month. With a private entrance and separate parking, it's an ideal setup for extended family or guests. Enclosed garage. As-Is. INVESTOR SPECIAL! Motivated sellers are open to all offers. Cash/Conventional only!
Source: GAMLS #10358539
Interest rate and monthly payment estimated based on public records.
Source: GAMLS #10358539
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.
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.
MLS ID: #10358539
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.