Bring Your Swimsuits! This Port Orange Saltwater Pool Home is now on the market & just in time for summer fun! You will love the 2020 designed pool & spa with fountain & waterfall features, four deck jets, three bubblers with sun shelf, three tier sun deck, fire bowl, & LED Lighting for those evening swims! Your very own private resort style backyard overlooking the lake at Skylake! This 101' wide x 146' deep lot has plenty of room for entertaining with a spacious pavered deck area, covered lanai, small putting green, and still plenty of yard space for fun and/or toy storage! Inside you will find just under 2,000 sf Living Space, 3 Bedrooms with Owners Suite downstairs, 2.5 Baths, and an upstairs 10x14 Flex Room perfect for an office, gaming or study room! 16x12 Kitchen with solid wood cabinets, granite countertops, stainless steel appliances, kitchen display window, and butcher block island. Spacious 15x14 owners suite with views of the pool/lake, walk in closet, re-tiled walk-in shower, soaking tub, and dual sinks. The entire home has an abundance of natural light with transom windows, vaulted ceilings throughout, wood burning fireplace, and an inviting front door foyer area. Great views of the pool from most rooms in the house! Inside laundry room with washtub. Oversized 22x23 Two car garage. Worry free 2024, 4-Ton A/C, & 2024 Water Heater, 2012 Architectural 30 year Shingle Roof, Hayward Saltwater Pool System, Propane Gas for Fire Bowl & Jacuzzi Spa. Non-Flood Zone, never any flooding issues. Zoned schools include: Sweetwater Elementary, Creekside Middle & Spruce Creek High School. Skylake has a low $140/year HOA fee and there are several community events planned throughout the year including a Summer block party, Halloween fun with food & drinks, and Santa greeting everyone from a fire truck for Christmas! Minutes to schools, shopping, restaurants, interstate access, boating, parks, and only 15 minutes to the beach!
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.
