356 Lake Dr, Atlanta, GA 30354
3 beds · 2 baths · 1,776 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Charming fully move in ready updated bungalow in fantastic Hapeville location & only minutes to I-75 and Langford Parkway. Enjoy this picturesque home in beautiful historic neighborhood close to everything city life has to offer & surrounded by like homes full of character. Open the front door into the light and airy living room with custom board & batten trim on all the walls & windows that let in tons of natural light! Living room flows seamlessly into the updated kitchen that features white shaker cabinets, new stainless steel appliances, subway tiled backsplash, recessed lighting, granite countertops, & kitchen island with overhang for bar seating. Open dining room connects to the kitchen & makes this home perfect for entertaining along with an exterior door that leads directly onto the backyard patio! Imagine having guests over & grilling out! Spacious separate laundry room off kitchen makes doing laundry a breeze & with added shelving can double as a walk-in pantry. Head down the hall to find two guest bedrooms that share the full hall bathroom which also has easy access for guests. Discover the oversized primary suite that has a remodeled private bathroom with double vanity, granite countertops, & a tiled walk-in shower. Extra bonus space in the primary bedroom houses two closets, making this room have a total of three closets, and the bonus space would make a perfect cozy home office or transform it into a bigger walk-in closet! This home is situated & perched up on top of the lot making the neighborhood view feel really special. This home has more space than others including a storage room off the backyard patio, so you do not want to miss this opportunity for a larger home in this area! Additionally, this neighborhood is a short 5-10 minute bike ride or walk to downtown Hapeville where you’ll find a variety of vibrant shops and restaurants. It is also located just minutes from Woodward Academy, Hartsfield-Jackson Airport, the GA International Convention Center, the Gateway Arena, and 15 minutes from both Intown & Downtown Atlanta.
Source: FMLS #7489632
Learn about how it works
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
All values shown are estimated costs / mo.
Source: Public records
Source: FMLS #7489632
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.