7559 Knoll Hollow Rd
Lithonia, GA 30058
4 beds · 3 baths · 1,817 sqft
$325,000
Get prequalifiedAbout this home
Are you frustrated that you completely missed out on the super low interest rates of 2-3 years ago? Were you saving up for a big downpayment and now you feel totally left out? Well... here is your one chance to grab a 3.0% fixed rate 30-year mortgage! Really?! What's the catch? It is an FHA assumable loan at 3.0% with Freedom Mortgage on the remaining balance of $256,000! This means you bring about 25% of the purchase price as your downpayment -- and your monthly payment would be $1,944/mo* with no PMI! That makes this the 4BR townhome of your dreams in the highly sought-after Creekside Village community. This exquisite floor plan boasts an array of luxurious features designed for modern living. Step inside to find gorgeous floors that flow seamlessly throughout the main level, leading you to a bright and inviting family room complete with a cozy fireplace. The open-concept layout offers easy access to a gourmet kitchen, outfitted with sleek gray cabinets, granite countertops, a spacious island, and upscale recessed lighting - perfect for both everyday living and entertaining. Upstairs, retreat to the stunning primary suite, featuring a large bath with dual vanities, a standing shower, and an expansive walk-in closet. Three additional generously sized bedrooms and a hall bath with granite counters complete the upper level, providing ample space for family and guests. Enjoy the numerous amenities that Creekside Village has to offer, including a sparkling pool - perfect for those warm summer days. Don't miss out on this incredible opportunity to own a piece of luxury in Creekside Village. Contact us today to talk more about the assumable loan -- and then schedule your tour to make this dream home your own before August 1st! (* - Must have 600 minimum credit score and pre-qualify with Freedom Mortgage to assume this 3.0% interest rate loan.)
Source: FMLS #7409236
Neighborhood
FAQs
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.
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.
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.
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.
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 “Save search” 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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.