VA loan
1 of 48
VA loan
$525,000

1130 River Falls Cir, Deland, FL 32720

5 beds · 3 baths · 2,873 sqft sqft

Stunning 5 bedroom home on quiet cul-du-sac in Deland. This is one of Richmond Homes largest floor-plans - the Moonstone. Boasting an open floor plan on the main floor with a custom built entertainment center with wired surround sound in the living room, Built in Dog cages for 2 small dogs. The kitchen has New upgraded GE profile stainless appliances, quartz countertops and large island.A Barn Door Pantry The first floor also has a flex/office that with the addition of a closet and door could be a downstairs 6th bedroom and full bathroom. You must check out the Harry Potter Closet a space with endless possibilities. On the second floor you will find the “pièce de résistance” the spacious master with ensuite bath and huge walk in closet with custom built-ins. Along with the master you will find 4 additional bedrooms and another full bath on the second floor. Beautifully landscaped with lighting and your very own palm tree. The back yard has a large covered patio and is fully fenced with room for a pool. Located only 2 1/2 miles to Historic Downtown Deland and Stetson University. 3 1/2 miles to the beautiful St. John’s River and 30 minutes away from the most famous beaches in Daytona Beach. Why wait for a new build this one is less than 2 years old!

Interest rate 3
5.55%
With Roam
6.5%
The seller’s mortgage rate at the time the loan was originated.
Monthly payment 3
$2,514
With Roam
$2,771
Reduce your monthly payments by $256 when you assume this mortgage.
You also save $86,325 in total interest paid.
$96,594
Edit

You may be able to put down less than the total down payment amount of $96,594 and have the rest of the funds financed with a 2nd mortgage from a lender. 4

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.
45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.
VA loan
Eligible for investors
Not a veteran? You may still be qualified to assume the mortgage.
Location
Details
Home
Size
2,873 sqft
Price per sq ft
$191
Lot size
0.14 acres
Year built
2022
Type
Single Family Residence
HOA dues
$100.00

Source: STELLAR #ns1082738

Loan
Remaining term
28 years
Rate
5.55%
Monthly P&I
$2,514
Remaining loan balance
$428,405

Source: Public records

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?

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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?

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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?

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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?

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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?

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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.

View all FAQs
Resources
Last updated: Oct 22, 2024 10:33 am
Listing agent: Marisa Gillman-Denton (386) 682-9776
Listing provided courtesy of: EXP REALTY LLC (888) 883-8509
Details provided by STELLAR and may not match the public record.
MLS ID: #ns1082738
Listings courtesy of Stellar MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided for consumers? personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright © 2024 MLS GRID. All Rights Reserved.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 45 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
Interest rate 3
5.55%
With Roam
6.5%
The seller’s mortgage rate at the time the loan was originated.
Monthly payment 3
$2,514
With Roam
$2,771
Reduce your monthly payments by $256 when you assume this mortgage.
You also save $86,325 in total interest paid.
$96,594
Edit

You may be able to put down less than the total down payment amount of $96,594 and have the rest of the funds financed with a 2nd mortgage from a lender. 4

Interest rate and monthly payment estimated based on public records.

$2,514/mo
View details