1 of 51
$599,999

1342 LUCILE AVE SW, Atlanta, GA 30310

3 beds · 2 baths · 1,773 sqft

Renovated bungalow with new HVAC system and roof in Historic West End. House still has a few of the quaint old style features that give it charm like the hall bath flooring and the fireplace tiles. Make your west end porch party the envy of the neighborhood. Enjoy the outdoor space on the large front covered porch with fans or the level fenced back yard with detached garage. Private driveway with gated wrought iron entrance and off street parking. New hot tub therapeutic spa 2023- chemical free. Interior is light, bright and spacious with tall ceilings throughout. Master bedroom has separate sitting area and huge bathroom suite with claw foot tub and separate rain water shower. Kitchen has granite counters, gas 5 burner cooktop and double oven. French doors lead to outside deck and private level back yard. Stack washer and dryer off kitchen. 3rd bedroom could easily be a great office. Full house water filtration system as well as additional drinking water reverse osmosis filter, brand new hvac system with extra air filtration system as well as all new ducts replaced 2023 - under warranty that transfers. HVAC moved to basement in preparation to open kitchen in the future. New roof 2023 new facia and soffits 2023. House exterior new paint 2023. Only 0.3 miles to Westside trail. Fruit producing trees on property- fig & plum as well as blueberries. New park planned only a block away. Easy in/out with red light at top of street. Easy access to 20, 285, 75 and 85. Easy access to airport. Great local food, vegan eateries, local farmers markets, vet, library nearby.

Interest rate 3
2.77%
With Roam
6.5%
The seller’s mortgage rate at the time the loan was originated.
Monthly payment 3
$1,316
With Roam
$1,955
Reduce your monthly payments by $639 when you assume this mortgage.
You also save $203,402 in total interest paid.

$303,746
Edit

You may be able to put down less than the total down payment amount of $303,746 and have the rest of the funds financed with a 2nd mortgage from a lender. 4

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.

Location

Details

Home
Size
1,773 sqft
Lot size
0.1573 acres
Year built
1920
Type
Single Family Residence
Loan
Remaining term
26 years, 6 months
Rate
2.77%
Monthly P&I
$1,316
Remaining loan balance
$296,252

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.

View all FAQs
Last updated: Sep 19, 2024 09:33 am
Listing agent: Team Lyon
Listing provided courtesy of: HomeSmart (404) 876-4901
Details provided by FMLS and may not match the public record.
MLS ID: #7426698
Listings on this website come from the FMLS IDX Compilation and may be held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work, please visit https://www.fmls.com/dmca.htm to review our DMCA policy and learn how to submit a takedown request. © 2024 FMLS.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 45 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$1,316/mo
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