94 CANYON VIEW DR, Newnan, GA 30265
Amazing value 3600 + SF home is Located less than 2 miles from shopping and restaurants, and 3 miles to Piedmont Newnan Hospital. 5 BEDROOM 4 BATHROOM Executive home is the perfect choice for those who need some space but want a low-maintenance lifestyle convenient to everything. Brick front with a front porch for classic curb appeal. 2 car garage with additional poured concrete parking area for guests or loved ones who come to visit. New roof in January 2024. New downstairs HVAC in May 2024. New paint in upstairs hallway in July 2024. New refrigerator (it stays!) in 2022. New microwave in 2023. The main floor features a formal living room or office, dining room with coffered ceilings, kitchen and breakfast room, family room with raised-hearth fireplace, laundry room, and secondary bedroom with bathroom. TWO STAIRCASES make this one of the coolest plans around, and the primary suite upstairs is ENORMOUS. Lots of storage throughout the home and additional storage in the large outbuilding in the back / side yard.
You may be able to put down less than the total down payment amount of $247,076 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: #10314790