2631 Miriam Ln, Decatur, GA 30032
3 beds · 2 baths · 1,222 sqft
Are you in search of a new investment opportunity or a cozy home to call your own? Look no further! This charming 3-bedroom, 2-bathroom residence offers the ideal combination of comfort and potential making it perfect for first-time homebuyers or savvy investors alike. Three bedrooms provide ample space for family, guests, or a home office. Two full bathrooms ensure convenience and privacy for all residents. Enjoy the elegance and easy maintenance of hardwood floors throughout the home. For those entering the housing market for the first time, this home provides a welcoming environment in a quiet neighborhood; it's a wonderful place to start building memories and equity. Located just minutes from Midtown Atlanta and Downtown Decatur, you'll have easy access to shopping, dining, and entertainment options while still offering a peaceful retreat from the hustle and bustle of city life. Alternatively, this property is perfect for investors offering a fantastic opportunity to capitalize on its rental income potential or with a bit of creativity and vision, you can transform this house into a fabulous renovation project. With endless possibilities for customization and improvement, this property is a blank canvas waiting for your personal touch. Whether you're looking to flip or rent, this home offers a solid foundation for future gains. This home is a find that won't last long on the market. If you're looking to invest or if you're looking to settle down, seize the opportunity to own a piece of this promising locale today!
Source: FMLS #7529894
Interest rate and monthly payment estimated based on public records.
Source: FMLS #7529894
Source: Public records
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%. 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.
Other resourcesWhat 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.