8050 WILD VIOLET DR, Cumming, GA 30040
A stand out, magazine worthy home in the coveted community of Brookmeade! This North East facing home is truly better than new construction with every design upgrade and hardwood floors throughout the ENTIRE home! As you step into the two story foyer, the designer lighting and gorgeous hardwood floors extend throughout. To the right is an office with custom, built in shelving and INCREDIBLE trim moulding. A bright, airy dining room flows seamlessly to the butler's pantry and designer kitchen. The main level of the home is FILLED with natural light. There is a guest bedroom and full bathroom tucked off the main level. A spacious, two story living room with a wall of windows and built in bookcases feeds to the eating area and kitchen. The kitchen is truly the heart of the home with white cabinetry, large island, tile backsplash and quartz counters. The large mudroom has been customized with built in black cabinetry and beautiful wallpaper. A large pantry can be found off the mudroom as well as access to the three car garage. Upstairs is the oversized owner's suite and three additional bedrooms and two baths. New hardwoods have JUST been put in throughout upstairs. The owner's suite features beautiful lighting and trim work and has a a lovely sitting area. The spa like bath has ample cabinet and counter space, his and hers sinks, a large tiled shower and freestanding soaking tub. The owner's bath feeds to the large laundry room and a spacious closet. The secondary bedrooms, one with en suite and other two with adjoining bathroom, feature beautiful lighting, extensive mouldings/trim and wallpaper. The unfinished basement is almost 2,000 square feet ready to be finished to your specifications! The covered back deck is perfect for enjoying the wooded view from the back yard.
You may be able to put down less than the total down payment amount of $812,024 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: #7412318