Welcome to a truly unique living experience in this authentic loft nestled within a historic 150-year-old cotton mill. Step into this industrial haven and be captivated by the blend of raw charm and modern comfort that defines this extraordinary space. This Loft has an assumable VA Loan with a 2.25% rate, (only for VA eligible buyers). The community has recently had some incredible renovations, including the pool area with cabanas, elevators, all secure entrances are smart phone enabled and just overall beautification everywhere! They have EV charging stations for any Electric vehicle and 2 gated dog parks! This 2 bedroom, 2 full-bathroom loft showcases the essence of loft living with its exposed brick walls, concrete floors, and original old wood post and beams. The industrial aesthetic is enhanced by the exposed ductwork, creating a captivating visual appeal that exudes character and style. Natural light floods the loft through the two-story windows, illuminating the space and creating an inviting ambiance. Enjoy the seamless flow between the living area and the kitchen, complete with tile backsplash, SS appliances, modern cabinets and wifi enabled Gas Range. The convenience of a dedicated laundry room adds to the practicality of daily living. The layout is intelligently designed, with a full-size bedroom on the lower level and a master bedroom tucked away upstairs, accessible via a spiral staircase. The private entrance ensures tranquility and seclusion, while still providing easy access to the building's amenities. Situated around the corner from the elevator and the incredible rooftop deck with skyline views!. The recently replaced AC system with a nest Thermostat ensures your comfort year-round, and the newer washer and dryer provide convenience and efficiency. Each bedroom boasts California closets, offering ample storage space to keep your belongings organized and clutter-free. Additionally, the property includes one assigned parking spot and an additional floating spot, ensuring hassle-free parking options. Step outside and discover a resort-like oasis in the form of a huge pool area, recently updated with cabanas for you to get some shade from the sun and unwind with friends. The vibrant neighborhoods of Edgewood and Cabbagetown, along with nearby attractions such as the Freedom Parkway Trail and the Beltline, are just minutes away via a bike or walk connecting entertainment, dining, and outdoor activities. Experience the epitome of loft living in this extraordinary space, where history meets modern luxury. Don't miss the chance to own a piece of industrial heritage in a prime location that combines the best of urban living and neighborhood charm. Taxes do not reflect Homestead exemption, they will be approx $4500/yr with Homestead.
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
