1114 CHELAN FALLS TRL, Deland, FL 32724
***Welcome to this 2022, 2370 square foot, corner lot, two-story home, boasting four bedrooms and two-and-a-half baths with a convenient two-car garage! This home is situated on a corner lot, offering the perfect space for a functioning backyard, making it truly unique in its potential! The layout of this home is both functional and flexible, featuring an upstairs bonus room that can be customized to your liking, whether you envision it as a game room, home office or just a place to chill! What sets this property apart are the included upgrades that come with the home to include a garden tub, extended lanai, under cabinet lighting and 2 extra windows in the living room for more natural light flow! Enjoy the convenience of modern living with gourmet stainless appliances in the kitchen, elegant quartz countertops with plenty of storage and a spacious walk-in pantry! The breakfast bar conveniently accommodates 4 and has elegant pendant lighting that accentuates the quartz! The under cabinet lighting adds richness to the already beautiful white cabinets! Enjoy your mornings on the large lanai or wind down your evenings relaxing! You'll also appreciate the charm of the paver driveway in this family friendly neighborhood! You can find relief at the Lakewood Park community pool for those hot Florida days! Don't miss the opportunity to make this fantastic two-story home your own and enjoy the comfortable and exciting lifestyle it offers! Easy access to I4, the beach and shopping! Call today to schedule your appointment to view! All Realtor Information and Measurements Intended to be Accurate but not Guaranteed. Buyer and Buyers Agent to verify all Property uses including Zoned Schools, HOA, Pets, Measurements, Lease Restrictions and Zoning as well as any other Intended Uses. ***
You may be able to put down less than the total down payment amount of $51,669 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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: #v4937001