109 Wynot Way, Deland, FL 32724
4 beds · 3 baths · 2,500 sqft
Seller will contribute $1,000 towards closing costs. This two story home is a rare find featuring a true mother-in-law-suite with a younger roof and thoughtful updates. 2 fully appointed kitchens, upstairs and downstairs. Greeted by the open living room you have an option for a window nook working space or flex room to entertain. The kitchen is highlighted by thoughtful updates, flooring lighting and space given equal measure. The first downstairs bedroom has an overly generous en-suite bathroom and can be used as the master suite or extra bedroom. The in-law-suite downstairs does feature the full kitchen, easily and readily useful as either the mother-in-law-suite, full downstairs standalone kitchen, bedroom, efficiency, or flex room. There’s an oversized downstairs living room or entertainment space as well with an uber private fenced in backyard featuring a newly added paver deck. Notice the surrounding land in the rear is privately owned. A multi generational home , or a unique and effective use of space for any buyer. Your proximity to historic downtown is literally moments away, New Smyrna beach is less than half an hour’s drive, Blue Springs State Park, Saint John’s River, Wekiva River Preserve State Park, and more are super close. Disney World and Universal Parks are under an hour’s drive for the visiting family members.
Source: STELLAR #O6273169
Financials
Source: Public records
Source: STELLAR #O6273169
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.