Don’t miss this 1920's Druid Hills classic beauty originally designed by architect Lelia Ross Wilburn. This home premiers for the first time in 41 years. A spectacular home, it is regally situated on a large private lot. The inviting covered front porch welcomes you with its historic charm. On the main level, you’ll find a stunning, sunlit living room with coved ceiling, granite wood burning fireplace, impressive trim package that includes, 6-inch crown moulding and baseboards that opens into a banquet sized dining room, also featuring a coved ceiling. Custom kitchen with quartz floors boasts a large island, solid surface counter tops, double ovens with warming drawer and cook top. A cozy breakfast nook adds charm and additional space. Main level guest bedroom and full updated bath are an added bonus. The huge family room offers extensive windows, another wood burning fireplace, built in cabinets and a separate entrance to deck and spacious back yard. On the upper level, you’ll find three additional guest bedrooms, sunroom/office, two guest baths including one with steam shower, and a huge primary suite complete with gas fireplace, spa bath and private covered porch. There is ample parking and room for detached garage. The rear entrance offers ADA access. There are also four HVAC units for seasonal comfort all year round. This historical beauty oozes charm and is so convenient to Oakhurst, Kirkwood, walking distance to MARTA. Preferred lender, Fairway Mortgage, will provide a !% interest rate buydown for 12 months to qualified buyers. Enjoy great school district in unincorporated Dekalb county without having to pay City of Decatur taxes.
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.
