237 Farrington Ave SE, Atlanta, GA 30315
3 beds · 2 baths · 1,752 sqft sqft
This lovely 3 BR/2.5 Bath home comes with a 1 car garage and hardwood floors throughout. The main level offers an open concept kitchen, living & dining room and a half bath, making it a great place to entertain and/or raise a family. Enter through the front door to a fun foyer with high ceilings, a staircase to upstairs and a view through the home to the backyard through the French-doors. These back doors lead out to a nice deck looking over the very large backyard. Gas fireplace in the living room area, kitchen bar, a pantry, access to the garage, and several closets all on the main level. Heading upstairs you will find two bedrooms, a full bath, and a comfortable laundry room. Down the hall enter the main bedroom with a full ensuit including a stone shower, separate toilet room, double vanities and a soaking tub. This bedroom also comes with a nice size closet. This home has 2 new HVAC systems (1 upstairs & 1 down in crawl space) and a new Water Heater. One other opportunity to mention is the size of the crawl space under the house, itCOs also large, about the size of one of the floors in the house and it has significant height as well. It has potential to be more than a crawl space, if you chose to expand. Location, Location, Location, just in Peoplestown off Hill St. A couple blocks to the Beacon, the Beltline, and all that Grant Park has to offer!
Source: GAMLS #10374166
Interest rate and monthly payment estimated based on public records.
Source: GAMLS #10374166
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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 “Get Notified” 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 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.
MLS ID: #10374166
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.