848 DURANT PL NE, Atlanta, GA 30308
ELIGIBLE FOR A 2.25% ASSUMABLE (TRANSFERABLE) JUMBO LOAN- A NEARLY 40% (or 4K) MONTHLY SAVINGS BASED ON TODAY'S RATES! This home was COMPLETELY GUTTED AND RENOVATED IN THE INTERIOR just a couple years ago and is located in Midtown just minutes from Piedmont Park, Ponce City Market, the Midtown Promenade, and The Beltline! This entertainer's paradise features an expanded/renovated kitchen with new quartz countertops, custom cabinetry, and premium Thor stainless steel appliances. The flex space living room offers room for entertaining with a relaxing view to your private, expansive fenced backyard with a large patio space, hot tub, and sauna, and privacy net! This home also comes with the choice of two master bedroom options. The spacious newly created master on the main comes equipped with an open layout containing a completely reconfigured master bath, walk-in shower, and walk-in closet. The original upstairs master offers a more traditional layout with ample closet space. The upstairs level, formerly an artists studio, also features a newly created 5th bedroom that can be used as a guest room or in-law suite and is equipped with space/hookups for a washer/dryer and fridge. There is also an additional loft area and storage space in this room or the entire area can be used for entertaining! Additional features include a new roof replaced in 2021, a breakfast nook off the kitchen, a former elevator space currently used for storage but which can be converted back to an elevator, a partial basement also great for additional storage, an upstairs deck with a view to your backyard, a flex space off the master that can be used as a gym or sitting room, and off street parking in front of the home with an opportunity to build a carport/garage if desired. Move right in or, with so much space for the price, treat this like your artist canvas and paint your own dream home! Nestled on a corner lot and tucked away in a serene part of Midtown, you'll be just steps away from all of the happenings Midtown and Atlanta has to offer! This home would also make a great AirBnB/long term investment property and has been used for celebrity rentals/long term rentals in the past in addition to a primary residence!
You may be able to put down less than the total down payment amount of $314,310 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: #7382595
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.