7834 BRASS LANTERN DR, Flowery Branch, GA 30542
Immaculately cared for 3-bedroom, 2-bath home in a tranquil setting in Sterling On The Lake. This charming property features a master bedroom on the main floor with pecan wood flooring throughout the main level along with a separate office space (could be converted to an additional bedroom) and large separate dining room perfect for family get togethers. Upstairs you will find a split bedroom plan along with a large full bathroom. The screened-in porch offers serene views of the private fenced backyard and provides the perfect setting for a morning cup of coffee or cold beverage during the evening to wind down after a long workday. The garage is also cooled with a separate cooling unit creating a perfect climate controlled working environment along with a beautiful epoxy coated flooring. This community also offers many social activities throughout the year. Whether it's chilling out by the pool, playing tennis with your neighbors, fishing/canoeing in the community lake, or taking in an outdoor concert at the clubhouse community greenspace. You can be involved as much or as little as you choose. So much to offer with this home, you won't be disappointed!
You may be able to put down less than the total down payment amount of $192,261 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: #7421516