1100 S Hope St Apt 1113 # 1113, Los Angeles, CA 90015
1 beds · 1 baths · 746 sqft
Get a free consultation call with an expert in the mortgage assumption process.
FANTASTIC OPPORTUNITY! This unit is a beautiful East facing "soft loft" condo in Luma, DTLA's premier living... with great views, from floor-to-ceiling windows & sliding door "Juliette"! HARDWOOD FLOORS WERE JUST SANDED, STAINED, AND FINISHED; KITCHEN & BATHROOM CABINETS WERE JUST RESURFACED; WALLS WERE JUST REPAINTED; AND NEW CEILING LIGHT FIXTURES INSTALLED! The unit features stainless steel appliances, and washer & dryer inside. LUMA is a Gold LEED-certified Green building (benefits incl. low electricity bills). The building is FHA/VA approved, as well as for conventional financing. Property has an ASSUMABLE VA LOAN @ APPROX. $445,000 BALANCE @ 3.750% INTEREST. Amenities incl. 24/7 doorman & security, gym, pool/spa/sun-deck on a 1/2 acre outdoor community terrace with BBQ, fireplace, and lounge chairs. Neighborhood amenities incl. popular Prank Bar on the ground floor of the building and mere steps to The Moxy, Level 8, Javier's, Mastro's, Starbucks, Orange Theory, South Park Pharmacy & Grocery, Crypto.com Arena, LA Live, Regal Cinemas, Ralph's, Whole Foods, and an abundant restaurant and mixology bar scene. This is a GREAT time to live & invest in Downtown LA: U.S. SUPREME COURT HAS RULED THAT CITIES CAN BAN HOMELESS ENCAMPMENTS & BILLIONS of dollars are going into DTLA development projects in preparation for the 2026 FIFA World Cup and 2028 Summer Olympics, incl. newly paved streets everywhere, plus exciting new construction in the neighborhood. AGENTS SEE PRIVATE & SHOWING REMARKS!
Source: CLAW #25517705
Source: CLAW #25517705
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.
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.
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 620, 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 and Equal Opportunity Act.