Short Sale. 3rd party approval is required. Bigger furniture has been removed from the property already. Short Sale Opportunity in the Desirable LPGA Community Don't miss this incredible opportunity to own a spacious newer-construction home in one of Daytona Beach's fastest-growing communities. This 4-bedroom, 2.5-bathroom home offers a functional two-story floor plan with generous living spaces, an open-concept kitchen, and room for everyone to spread out. The heart of the home features a large kitchen with quartz countertops, shaker-style cabinetry, stainless steel appliances, ample storage, and a center island overlooking the living and dining areas, making it ideal for entertaining or everyday living. Upstairs, you'll find spacious bedrooms and flexible living space perfect for a growing family, home office, or guests. Situated on a corner lot with a two-car garage, this home offers the chance to add your own personal touches while building equity. This property is being offered as a short sale and is subject to lender approval. Location Highlights: One of the biggest advantages of this home is its convenient location near Daytona's top destinations: Approximately 5 minutes to LPGA International Golf Club, 10 minutes to Tanger Outlets Daytona Beach, 12 minutes to Buc-ee's Daytona Beach, 15 minutes to Daytona International Speedway, 15 minutes to Daytona Beach International Airport, 18 minutes to Embry-Riddle Aeronautical University, 20 minutes to Daytona State College, 20 minutes to the World's Most Famous Beach, 25 minutes to Ormond Beach, 1 hour to Orlando, 1 hour 15 minutes to Orlando International Airport (MCO) Whether you're searching for a primary residence, investment opportunity, or a chance to own in a growing Daytona Beach market, this property offers exceptional value and potential. Schedule your private showing today and discover the possibilities at 1127 Cabot Cliffs Drive.
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.
