435 SPRUCE DR, Pine Lake, GA 30072
WELCOME HOME to PINE LAKE, the crown jewel of DeKalb County according to the AJC! Although it's the smallest city in Atlanta, what it lacks in size it makes up for in community. Pine Lake is nestled on 12 acres, including all the perks of urban living like it's own post office, a police station, city hall, two rentable event spaces, a tennis court, a Club House, and a SANDY BEACH that leads to the HUGE LAKE wich offers swimming, fishing, non-motorized boating, which are all complemented by a park, green spaces, playground, nature trails/hiking paths maintained by the city which means NO HOA! Located in this hidden, highly sought after gem of a city, is a MOVE-IN ready, 3 Bedroom 2 Bathroom home that was renovated down to the studs in 2017, including the HVAC, ROOF, ELECTRICAL,WATER HEATER, FLOORING, KITCHEN, BATHROOMS, AND SIDING. The home is an Entertainer's dream that features a bright open floor plan including an oversized living room, gleaming hardwood floors, and an electric fireplace. The inviting chef's kitchen is fully equipped with an island that includes an electric cooktop and oven, granite countertops, stainless steel appliances, and wood cabinets. Have family and friends gather on the newly stained and sealed outdoor deck overlooking the newly laid stone landing that leads into the glorious, level backyard with a firepit, that is lined with trees creating natural seclusion and privacy. The owner's suite features newly installed flooring (2022), while the bathroom features excellently crafted tile work accented by glass tiles, a frameless glass shower door, a rainfall showerhead, and granite countertops. Two additional guest bedrooms and subway and mosaic tile adorn the guest bathroom in the hallway, which rounds out this updated ranch charmer. The crawlspace is fully encapsulated, the vents sealed, and a dehumidifier installed in 2022 to ensure no moisture intrusion or humidity. Most importantly, this artistic, eclectic, and vibrant community of Pine Lake is only three (3) miles from the Indian Creek MARTA station, making your commute a breeze or you can jump in your car for a short drive to shopping, great restaurants, while being close to Emory and all that Downtown Atlanta, Decatur, Tucker, Stone Mountain, East Atlanta Village, Little 5 Points, Virginia Highlands, and the Beltline has to offer. Experience the unique charm of a renowned lake community that offers a friendly atmosphere, values individuality, and celebrates diversity. Don't miss the opportunity to experience Pine Lake living!
You may be able to put down less than the total down payment amount of $39,058 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #7379532
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.