2206 Loring Ct, Decatur, GA 30032
4 beds · 4 baths · 2,488 sqft
**This home qualifies for 100% financing program with NO PMI!** Say "I'll take it!" to this stylishly updated and expanded modern farmhouse nestled in a cul-de-sac within the heart of a thriving community. Be ITP without city of Decatur taxes, this home offers an incredible opportunity for those seeking affordability without sacrificing location. Beautiful "down to the studs" renovation with second story addition. Spacious kitchen with large island with quartz countertops, white shaker cabinets, stunning cobalt blue subway tile, stainless steel appliances, and granite countertops. You will love the high ceilings and huge open concept kitchen and living area-perfect for entertaining. The adjacent dining room can easily double as a children's playroom/study, craft room, home office or media room. Full bedroom with gorgeous en suite bath on main AND additional powder room for guests. Spacious second floor master bedroom with modern double tray ceiling and huge walk-in closet. Spa-like master bath with oversized tile and gorgeous fixtures and finishes. Two additional oversized bedrooms share a stunning cement tiled bathroom with double sinks. Full laundry room with double doors. Beyond the walls is a large new deck overlooking a large flat, private yard - a great backdrop for your summer BBQ, evening cocktail parties and/or a cozy playground for pets and to throw a ball or frisbee around. Storage shed is a nice bonus! Jump in the car and you are just minutes from downtown Decatur, ATL, East Atlanta Village, L5P, and a great variety of shopping and dining spots. Very easy access to major highways for quick commutes downtown or to the airport. Don't miss out on this fantastic opportunity to own a piece of the city at a price that won't break the bank. Future homeowners - this checks the value, location and style/aesthetics boxes. Investors - appreciating rental income in this area. Rent the entire home or by the room or go short term rental. A perfect opportunity to add to your investment portfolio. FHA eligible and property is FHA assumable at 3% rate.
Source: FMLS #7534809
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Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: FMLS #7534809
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
How can you find assumable mortgage listings?
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.
How do I qualify for an assumable mortgage?
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 of Equal Opportunity Act.