5300 Peachtree Rd # 2604, Atlanta, GA 30341
2 beds · 2 baths · 1,178 sqft
Get a free consultation call with an expert in the mortgage assumption process.
This charming 2-bedroom, 2-bathroom condominium is ideally located in the heart of downtown Chamblee, Georgia. The unit features sleek gray laminate flooring, which is just 5 years old, along with brand-new stainless steel appliances and a 1-year-old HVAC system. Both generously sized bedrooms offer walk-in closets, providing ample storage space. The thoughtful roommate floor plan includes a spacious family room that seamlessly flows into the kitchen and eat-in bar area. For added convenience, the stackable washer and dryer are located in the entryway’s common area. The community offers a range of amenities, including an onsite pool, fitness center, rooftop tennis court, outdoor grills, dog walking areas, a café, and a business center. Additional conveniences include onsite garbage disposal on every level, covered deeded parking spaces, a covered mailbox center, two key fobs, and street parking passes. The shopping area nearby features a variety of popular businesses, including T-Mobile, Whole Foods, Verizon, Chipotle, Starbucks, Brookhaven Pilates, Hollywood Feed, Lowe's, and many other fantastic shops and services. Conveniently located near Phipps Plaza, Lifetime Fitness, LA Fitness, Planet Fitness, AC Hotel, Lenox Square, Nobu Hotel, and an array of fine dining restaurants.
Source: FMLS #7526199
All values shown are estimated costs / mo.
Source: Public records
Source: FMLS #7526199
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.