100 Atlantic Ave Apt 701 Unit 701 Long Beach, CA 90802
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About this home
Welcome to this stylish mid-century modern condo in the heart of Downtown Long Beach! Located in the iconic Royal Palms building, this 2-bedroom, 1-bath residence offers 820 sq. ft. of thoughtfully designed living space with sweeping city views and a peek-boo view of the Queen Mary through oversized windows that flood the home with natural light. This is a end unit with only one shared wall. Seller also has an ASSUMABLE FHA loan with a 2.75% rate with approximate balance of $360K. Seller is willing to consider loan assumption. Step inside to find an open-concept floor plan featuring a modern kitchen with sleek cabinetry, granite countertops, glass backsplash, stainless steel appliances, and ample storage. RARE IN UNIT LAUNDRY! The spacious living and dining areas create the perfect space for entertaining or relaxing while enjoying the skyline views. Both bedrooms are generously sized, with the primary suite offering plenty of room for a retreat. The bathroom has been updated with a modern vanity, Full slab granite shower-tub combo, and vessel sink. This pet-friendly community includes 24 hour surveillance and an elevator with secure access required after hours, a refreshing pool, outdoor lounge areas, BBQ space, and laundry facilities. Perfectly situated on the corner of Atlantic Avenue and 1st Street, you’re just moments away from the beach, Shoreline Village, Pike Outlets, coffee shops, and award-winning restaurants. Easy access to public transportation and major freeways makes commuting a breeze. With its unbeatable location and vibrant downtown lifestyle, this condo offers the perfect blend of comfort and convenience.
Source: CRMLS #PW25246957
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FAQs
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.