73 Rumson Ct SE, Smyrna, GA 30080
2 beds · 2 baths · 1,435 sqft
It's hard to find a condo community in Smyrna with NO rental restrictions! A great investment opportunity now, or you can have the option to keep your property as a rental property down the road! This is the one!! Beautiful and spacious 2 bedroom/2 bath ground floor condo in a quiet swim/tennis community and excellent Smyrna location! Brand new paint throughout, and brand new LVP in the living areas, as well as new carpet in the bedrooms...move-in ready! Spacious bedrooms and bathrooms, and wonderful enclosed back porch to enjoy your morning coffee in a nice, wooded setting. Home also features a covered patio off the sunroom/living room, which opens up to a wooded area to let your dog out. Washer/dryer and all stainless steel appliances included. Top notch amenities - pool, newly renovated clubhouse, and tennis courts! And close to it all - centrally located in between Braves stadium/Battery and Smyrna Market Village shops/restaurants/splash pad/playground/community center/library (and new Stillfire brewery coming soon!), and is less than a mile from I-285/I-75. FHA Approved & NO rental restrictions!
Source: FMLS #7539926
Financials
Source: Public records
Source: FMLS #7539926
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.