1020 Wisconsin Ave, Saint Cloud, FL 34769
4 beds · 3 baths · 2,288 sqft
The one you have been waiting for. Located in downtown Saint cloud, one of central Floridas fastest growing communities, just minutes from world renowned lakes, Lake Nona, Orlando Airport, and a short drive to Disney and Universal this multi-unit property is bursting with value. Situated on over a 1/3rd acre corner lot, this property features two seperate units with separate addresses and utilities. The main residence is an updated 3/2, the ADU is a 1/1 also updated. Through the front door of the main residence, an open and airy floor plan greets you bursting with natural light onto the refinished wood floors. To the left, a huge living room is perfect for family gatherings. To the right through a barn door you will find the homes large laundry room which feeds into the updated downstairs full bathroom. Past the living room and dining area, the homes well equipped kitchen boasts new cabinets, tiled backsplash, newer appliances, breakfast bar, ample storage, views to the back patio, and a second set of stairs to the second floor. Upstairs you are greeted with an amazing loft area perfect for movie nights, or a home office. The master sits on the far end of the second floor for added privacy. It features great size and great views. The third bedroom is also upstairs and is conveniently placed to easily access the second full bathroom which has also been updated. Past the back patio, driveway, carport, and large storage shed, the separate guest home is located on the west side of the property giving it its own space and privacy. The guest home has a large living room, which leads into a dining area and spacious kitchen which has been updated. The bedroom is spacious for this size of unit and offers tremendous closet space. The bathroom has also been updated in this home. Front and back patios are a bonus to get outside and enjoy Floridas pristine weather. Main residence updates include: new water softener system 2020, replaced entire main drain line 2019, gas tankless hot water 2019, gas dryer 2019, natural gas hook up for grill or generator 2019, expanded Landry room 2019, new tile floor, Ac 2020, all new ductwork, new thermostats, carport new metal roof 2023, termite tented and treated 2023. Guest residence updates include: new Ac 2024, new fridge 2024, new front porch 2021, added W/D combo unit 2019, residence has its own water, cable, electric.
Source: STELLAR #O6265505
Financials
Source: Public records
Source: STELLAR #O6265505
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.