1077 River Otter Way, Deland, FL 32720
3 beds · 3 baths · 1,948 sqft
One or more photo(s) has been virtually staged. <br><br> ***Attention Veterans **VA ASSUMABLE!*** Call your Realtor for all of the great details! <br><br> This beautiful Coral model is a must-see! And the location of the lot is terrific! A beautiful two story (built in 2021) home, with an open and bright great room, kitchen, and more, downstairs. The bedrooms, laundry, and a nice open, but cozy, loft are all on the second floor. <br><br> The lot is located on the end of the block, and has a large dry retention pond behind it. So, no homes to the right, or to the back of the home!! The back yard is enclosed with a nice white vinyl privacy fence on two sides, and a slatted, lower fence in the rear, to be able to appreciate that great view! The caps of the rear fence also have solar lights – very pretty at night. A nice sized screened lanai – with room for lounging, and/or bringing meals outdoors. <br><br> The first floor has beautiful wood look tile, quartz counters, stainless steel appliances, a trash cabinet – to keep that nicely hidden away, yet convenient-extra drawers in the kitchen, and an oversized bar for plenty of room for food prep, projects, or entertaining, as well as for fitting 4 bar stools across there comfortably. The spacious dinette is another area to relax with morning coffee, or dinner - all while enjoying the outside view. There is a ½ bath downstairs – nicely located off the main area. The large family room space is close enough to be part of the family activities, but also off to the side a bit, to be a cozy spot for catching up on your favorite TV shows. Such great window placement, and triple sliders, all which can let in so much natural light. Below the stairs is a surprising amount of storage space – or a really fun play fort! <br><br> Upstairs – the laundry room is between the bedrooms – very convenient, as most of the laundry is stored in the bedrooms/bathrooms. The loft is a nice bonus – a great place to set up for so many possibilities – game area, play area, home school area, office, and more. <br><br> The three car garage is always a plus – even if you only have one car – the extra space is always appreciated! A couple of nice surprises with this garage are the rear door – opens to the back yard – much easier for doing yard work, and the built in upper cabinets – again – more storage! <br><br> This home also has a whole house water softener, and an under the (kitchen)sink R/O system. The low HOA covers the playground, common areas, and reclaimed water for lawn irrigation – that’s a savings for sure! <br><br> And one of the best things about this home?! That solar panels have already been installed, with assumable payments– making the monthly energy bill very affordable! <br><br> This is such a beautiful home, with so many great features – you’ll want to call your Realtor to make an appointment to see it soon! <br><br>
Source: STELLAR #o6221107
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #o6221107
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: #o6221107
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