Located in Ocoee, close to Good Homes Rd and Colonial Drive (SR50), is where you will find this 3 bedroom 2 1/2 bath Townhome with garage. This is a corner unit and benefits with more outside greenery and space. The windows on the southern exposure of the home, allows for more sunlight. NEW ROOF Sept 2024. As you enter you are greeted by a foyer and an open floor plan. The spacious kitchen is open to the dining/living room, and a guest bathroom. The kitchen features High End stainless steel appliances, a closet pantry and a breakfast nook. In the living room, the sliding doors, take you out to a screened patio with storage closet and access to the rear shared yard. Upstairs, the large master bedroom has a walk-in closet, and in the private bathroom, there are double sinks, a tiled shower and a private w/c. The other bedrooms are of standard size with large closets and share a full bathroom, which has a tub/shower. In addition, the washer and dryer are located on the second floor for convenience. The home has a one car garage with cabinetry for storage. The neighborhood benefits with shopping plazas, malls, medical offices and restaurants all within short driving or walking distance. With easy access to SR 408 and Florida turnpike, downtown Orlando is within 15 minutes. Call us today for a showing!
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.
