Are you looking for a home with NO HOA and close proximity to the South Lake walk/bike trail? Welcome home to 109 N. Bloxam Ave, this charming 4-bedroom 2-Bath home with 1,920 sq. ft. in Minneola has an amazing layout offering a spacious interior PLUS a Detached Workshop. Featuring great curb appeal with its mature trees, a welcoming oversized front porch with mature landscaping. Inside you will find a spacious Living Room and Kitchen to entertain your friends and family. Kitchen is huge and features Granite countertops, all Stainless Steel Appliances with a Gas Range, generous amount of cabinets and counter space for all your kitchen and cooking needs. The New Butcher Block Kitchen island provides eat-in dining space that is wheelchair accessible. Sliding doors off the Kitchen area provide access to the side and rear yard with an additional entry to bring your groceries and belongings directly from your driveway to the Kitchen. This lovely residence features a split bedroom layout offering privacy of four nicely sized bedrooms. Bathroom with New Dual vanity, new walk-in shower, new tile accents and a separate garden tub for soaking and relaxing. Your Washer and Dryer are conveniently located in the bathroom making laundry a breeze. Additionally this home offers a Detached Workshop/utility shed providing additional storage for all of your tools and storage needs. The current owner has spared no expense in updating this home from it's original condition including New Double Pane windows, New LVP flooring throughout main areas and bedrooms, additionally both Bathrooms have been updated from top to bottom. Situated on a partially fenced lot, there is plenty of room between you and your neighbors with room to grow. Call today to schedule your private tour! Walking distance to great schools, Minneola Trailhead park/bike trail which is part of the South Lake bike Trail, plus close proximity to Downtown Clermont's Waterfront Park, Orlando Health South Lake Hospital, and the new Minneola Advent Hospital. The Minneola Turnpike ramp is just 3 miles away! NEW ROOF coming soon!
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.
