1015 Lake Emerald Dr, Orlando, FL 32806
3 beds · 2 baths · 1,251 sqft sqft
Rare gem available directly across from Lake Emerald in the amazing Lake Weldona area adjacent to the affluent Bel Air, Delaney Park, and Lake Davis neighborhoods! Downtown living at its finest without the HOA fees of living in a downtown condo and this property comes with lots of parking. Your new lake front oasis is a 5 minute walk to 903 Mills Market for breakfast/lunch/dinner, or a quick 5 minute drive to the bustling downtown area, Thornton Park, or the Hourglass District, all full of restaurants and shopping! Zoned for Lake Como (k-8) and Boone High School (9-12) which are highly sought after top-notch schools and both close enough to walk, or ride a bike. This home has a large front yard full of lush oak trees that you will love and a backyard with a large shed for storage, all located on a large corner lot in between Lake Emerald Park and Lake Weldona Park. There is a 30 amp power hookup and room for a RV/Boat with no HOA restrictions in the backyard. Split plan with two bedrooms on one side and a large master bedroom boasting a fireplace and huge walk-in closet on the other. You’ll love this amazing 3/2 in this quiet downtown neighborhood with everything it has to offer! The convenience is unmatched by being 20 minutes from the Orlando International Airport and going anywhere in Orlando by taking I-4 and 408 to get quickly to 528, the Turnpike, I-95, or 417. This property will not last long.
Source: STELLAR #tb8304765
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #tb8304765
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step. Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #tb8304765