2565 Ravencliff Rd, Atlanta, GA 30349
4 beds · 2 baths · 1,430 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Opportunity Knocking - Very Good Value for Under $250,000 - Spacious Move in Ready Cedar Frame 4 bedroom, 2 Bath Split Level with Character and Charm. Light, Bright and Open Describes This Well Planned Floor Plan that Flows. Two Primary Bedrooms to Choose From, One On The Main and One Upstairs, Entertainment Size Living Room for Hours of Quality Time, Complimented by an Open Dining Area w/ Private Patio and Backyard - Galley Kitchen That is Efficient with Gas Oven Range Right, Easy Garage Right To The Kitchen to Bring in the Groceries. The Kitchen Offers Space to Test Your Culinary Skills. Nice Size Bedrooms Including The Two Main Level Bedrooms Where You Can Have Two Choices of a Primary Bedroom Set Up. Two Ample Size Baths For Those Who Need to Get Ready and Go. Nice Private Backyard with Patio To Unwind on, or Read a Book or Entertain. Newly Installed Water Heater 2024. Spacious One Car Garage. House Shows Well and Ready to Go. Located in the Convenient Location with Close Proximity to Support Services, Major Roads, Education Facilities and Medical Facilities. The Seller Has Never Occupied Subject, It Was Used Prior as Rental. This Home is Being Sold Strictly "As Is", Where Is, No Disclosures. Buyers Will Have the Right to an Inspection. FHA Lendable. Inspect, Compare and Price for Area.***MULTIPLE OFFERS RECEIVED - HIGHEST & BEST DUE 03/31/2025 - 10 a.m. - SEE DOCS FOR FORM***
Source: GAMLS #10279701
All values shown are estimated costs / mo.
Source: Public records
Source: GAMLS #10279701
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.
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.
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 of Equal Opportunity Act.