1845 PENELOPE RD NW, Atlanta, GA 30314
Pre-approved Short Sale, ready for a quick closing! This charming one-level, full brick ranch offers a host of modern amenities and a convenient location, making it a highly desirable residence.The full brick exterior provides durability, low maintenance, and timeless appeal.Smooth ceilings add a sleek and modern touch to the interior, enhancing the home's overall aesthetic.The refinished hardwood floors offer a classic and elegant look, adding warmth and beauty to the living spaces.The kitchen is equipped with stainless steel appliances, providing a modern and functional cooking space. The inclusion of a washer and dryer adds convenience, eliminating the need for additional laundry facilities.Private rear parking with gate lock offers security and ease of access for residents.The new plumbing, including the sewer line, ensures reliable and efficient water and waste management systems. The updated HVAC and electrical systems provide comfort and efficiency, ensuring a modern living environment.Easy access to the BeltLine provides opportunities for walking, biking, and outdoor activities. Proximity to Bellwood Quarry/Westside Park offers recreational opportunities and beautiful natural scenery.Conveniently located near the Atlanta University Center, making it ideal for students, faculty, and staff. The location near TP Studios is perfect for those working in or enjoying the entertainment industry.Being close to downtown Atlanta ensures easy access to a wide range of amenities, including shopping, dining, entertainment, and cultural attractions.Overall, this one-level, full brick ranch with smooth ceilings, refinished hardwoods, stainless steel appliances, included washer and dryer, private rear parking, and updated systems offers a comfortable and stylish living space in a prime location near the BeltLine, Bellwood Quarry/Westside Park, the AU Center, Tyler Perry Studios, downtown Atlanta, and more.
You may be able to put down less than the total down payment amount of $0 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: #10356924