1029 River Otter Way, Deland, FL 32720
5 beds · 3 baths · 2,550 sqft
BUILT IN 2022 | 5 BEDROOM | 3 BATH | OPEN FLOOR PLAN | LIGHT & BRIGHT | SCREENED-IN PATIO | NO REAR NEIGHBORS - Located on the outskirts of downtown DeLand off Hazen Rd., close enough to enjoy downtown DeLand activities, but far enough away from the hustle and bustle to enjoy some quiet evenings on your screened lanai. Immediately upon stepping into the foyer, your eyes take in the tall ceilings and open floor plan. Windows are strategically placed to allow an abundance of natural light and a cross breeze during the spring and fall seasons, yet also allowing sufficient wall space for furniture and television placement. A surprise bonus is the downstairs bedroom and full bath. Use it as an office or guest room. The modern color palate of the home is carried throughout in the tile, cabinet, and paint choices. The kitchen has quartz counters, a stainless steel under mount single bowl sink, and stainless steel appliances. The stove is brand new (11/2024) and comes with a 2-year warranty. The screened porch is accessible from the kitchen through the sliding glass doors. Growing in the backyard is sugarcane, mango, pineapple and okra. Back inside, we venture upstairs to four generously sized bedrooms, two full bathrooms, and a laundry room. The primary and upstairs hall bathrooms have double sinks, stone counters and tile floors. Make an appointment today to see all this home has to offer!
Source: STELLAR #v4939735
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #v4939735
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.
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.
MLS ID: #v4939735