Welcome Home to 4851 Hester Avenue, Sanford — A Versatile Multi-Generational Property on Over 2 Acres Discover an exceptional opportunity at 4851 Hester Avenue in Sanford. This expansive 5-bedroom, 4-bath residence provides remarkable space, flexibility, and functionality on more than 2 acres of private land. Spacious In-Law Suite and Guest Area The separate in-law suite includes its own kitchen, bedroom, bathroom, and the potential for a private entrance. This layout creates additional living space suitable for a wide range of arrangements, guests, or long-term use. Recent Upgrades and Modern Features • New roof installed in 2022 • Electrical system updated in 2021 • Gas tankless water heater and gas washer/dryer hookups with on-site propane tank (leased; transferable) • Whirlpool appliances (gas stove, microwave, dishwasher) purchased in 2022 Expansive Workshop and Storage Options The property includes a fully functional 1,800 sq. ft. steel workshop built in 2022, complete with electricity, water, lighting, and three doors—one large enough for a boat or RV. This versatile space supports a variety of uses, including projects, equipment, storage, or business-related needs. Outdoor Living and Expansion Potential • Enclosed Florida room for year-round enjoyment • Updated fireplace with new fire brick and flue • Two septic tanks and an expanded drain field to support potential future improvements • Two sheds, including one with a wall-unit A/C Architectural plans are available for a future primary suite buildout, and the in-law suite includes plans for a private entrance to enhance layout flexibility. Ample Space and Privacy The fully fenced yard provides privacy and room for outdoor activities, with abundant space for RVs, boats, equipment, gardening, or future expansion. Prime Location Situated minutes from SR-417, shopping, dining, and Sanford International Airport, this location provides convenient access while maintaining a peaceful setting. A Property With Exceptional Flexibility Explore the possibilities at 4851 Hester Avenue. Schedule your visit today to experience all that this unique property presents.
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.
