Welcome to 2632 Derby Dr, a beautiful 3-bedroom, 2-bath home nestled in the desirable Deltona Lakes community of Deltona with NO HOA and NO Rear Neighbors!! Offering 1,214 square feet of thoughtfully designed living space on a generously sized lot just under a quarter acre, this property delivers comfort, functionality, and value in one inviting package. Step inside to discover soaring vaulted ceilings in the living room that create a bright, open atmosphere filled with natural light. The seamless flow from the living area into the dining space makes everyday living and entertaining effortless. The galley-style kitchen is both practical and stylish, featuring ample cabinet and counter space along with included appliances, perfect for daily cooking or hosting guests. Recent upgrades elevate the home’s appeal, including new Vinyl Plank flooring, updated ceiling fans, and fresh interior and exterior paint—making this home truly move-in ready. The split-bedroom layout offers flexibility for families, guests, or a home office setup. Enjoy Florida living at its best in the expansive screened-in back patio, ideal for relaxing evenings or weekend gatherings. Beyond, the spacious backyard provides endless possibilities for outdoor activities, pets, or future enhancements. A unique bonus is the air-conditioned shed, perfect for a workshop, storage, or even a creative space. Major updates include a roof replacement in 2021, offering peace of mind for years to come. Conveniently located near parks, schools, shopping, and dining, this home also provides quick access to I-4, making commutes to Sanford, Orlando, and Daytona Beach simple and efficient. Enjoy being approximately 30 minutes from the famous coastline and under an hour from world-renowned attractions like Walt Disney World, Universal Studios Florida, and SeaWorld Orlando. Whether you’re searching for a primary residence or a smart investment opportunity, this home offers the perfect balance of suburban tranquility and proximity to Central Florida’s top destinations. 3D Tour available
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.
