VA loan
1 of 32
VA loan
$435,000

3820 Roswell Rd NE # 616, Atlanta, GA 30342

2 beds · 2 baths · 1,270 sqft

Incredible price and opportunity to own a very spacious 2 bedroom / 2 bathroom loft-style condominium at The View at Chastain in the coveted neighborhood of Chastain Park. This flexible, open floor plan boasts a pleasing balance of modern and traditional elements and has been recently updated with all new: HVAC, Rheem hot water heater, Cafe Refrigerator, GE washer/dryer, light fixtures, Kohler faucets, cabinet handles, door handles, renovated bathrooms with designer tile, frameless glass showers, new carpet in bedrooms and has been freshly painted. Enormous windows in all rooms allow for tons of natural sunlight, 12' ceilings and hardwood flooring throughout main living areas. The gourmet kitchen delights with plenty of counter top space, an oversized breakfast bar with seating area, gas cooking, Siematic cabinetry, Silestone counters, subway tiled back splash and nice size pantry. The kitchen flows seamlessly into the inviting living room / dining area and opens to the entertainers size balcony. Relax and unwind in the spacious primary suite with its own private entry to the balcony as well, walk-in closet and en-suite bathroom featuring a double vanity, oversized soaking tub, separate shower and linen closet. The 2nd bedroom offers generous closet space and bathroom directly across hall with a large shower. Two premium deeded parking spaces in a gated garage and close to the elevator are included. The View at Chastain is a full service building with 24-hour concierge and desirable amenities including the pool with cabanas, covered gas grilling area with kitchen prep station, top notch fitness center with saunas, resident clubroom and dog walk area. ***HOA includes all listed amenities along with gas, water and trash (each floor has a trash chute). The View at Chastain is conveniently located to top restaurants, tons of shopping and 3/4 mile to Chastain Park, with playgrounds, amphitheater, walking paths and 18-hole golf course.

Interest rate 3
4.125%
With Roam
7%
The seller’s mortgage rate at the time the loan was originated.
Monthly payment 3
$1,369
With Roam
$1,769
Reduce your monthly payments by $400 when you assume this mortgage.
You also save $107,277 in total interest paid.

$195,497
Edit

You may be able to put down less than the total down payment amount of $195,497 and have the rest of the funds financed with a 2nd mortgage from a lender. 4

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.

VA loan
Eligible for investors
Not a veteran? You may still be qualified to assume the mortgage.
Location
Details
Home
Year built
2005
Type
Condominium

Source: FMLS #7450557

Loan
Remaining term
22 years, 4 months
Rate
4.125%
Monthly P&I
$1,369
Remaining loan balance
$239,502

Source: Public records

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?

expand content

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?

expand content

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?

expand content

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.

How can you find assumable mortgage listings?

expand content

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 “Get Notified” 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.

How do I qualify for an assumable mortgage?

expand content

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.

View all FAQs
Last updated: Dec 05, 2024 06:13 pm
Listing agent: Marisa Green
Listing provided courtesy of: Atlanta Fine Homes Sotheby's International (404) 237-5000
Details provided by FMLS and may not match the public record.
MLS ID: #7450557
Listings on this website come from the FMLS IDX Compilation and may be held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work, please visit https://www.fmls.com/dmca.htm to review our DMCA policy and learn how to submit a takedown request. © 2024 FMLS.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 30 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$1,369/mo
View details