165 Hillcrest Ave, Athens, GA 30606
3 beds · 2 baths · 2,632 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Fantastic opportunity to own a piece of Athens's history in one of our most prized in-town neighborhoods. Built in 1912, this home served as one of Athens' most well known recording studios for 40+ years, but over the past 10 years it's been lovingly restored to a classic historic neighborhood home. Handcrafted, detailed upgrades and updates as well as original elements have been brought back to life in this major restoration. The kitchen is the most recent addition and features custom cabinetry and countertops, a gorgeous copper range hood, a large walk-in pantry, and double door access to the back porch. The current bedroom configuration consists of 2 Bedrooms with a Jack and Jill bathroom on the main level as well as a lofted space above the garage that could be made into a gorgeous master bedroom. One bedroom and bathroom on the main level has been left unfinished but could be easily made into a main floor master bedroom or a nicely sized bedroom with an ensuite bath. An unusual feature to an intown home is the addition of an attached 2 car garage with loft space above. The garage is currently a woodworking shop and the bonus space would make for great for additional living space, an art studio, or a fantastic master suite. This house is sturdy, well-built, and well-maintained with tons of charm, potential, and space in an unbeatable location.
Source: GAMLS #10483516
Source: GAMLS #10483516
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.