120 Ash St, Edgewater, FL 32141
2 beds · 2 baths · 1,413 sqft
BIG PRICE IMPROVMENT ON THIS MOVE IN READY HOME IN RIVERFRONT COMMUNITY "TERRA MAR VILLAGE", WHERE THE LAND MEETS THE SEA. THE LOT IS INCLUDED, YOU OWN THE HOME AND THE LAND! THIS HOME AND COMMUNITY OFFERS LOTS OF AMENITIES INCLUDING PRIVATE BOAT RAMP, FISHING PIER, TWO LARGE SWIMMING POOLS, CLUBHOUSE, AND BOCCI BALL COURTS. THIS MOVE IN READY HOME INCLUDES ALL APPLAINCES. HOME FEATURES OPEN KITCHEN WITH BREAKFAST BAR, INDOOR LAUNDRY ROOM, MASTER BEDROOM WITH ENSUITE INCLUDING DOUBLE SINKS, SHOWER AND SOAKING TUB. SPACIOUS GUEST BEDROOM AND FLEX ROOM THAT COULD BE BEDROOM, DEN, OR MEDIA ROOM. OUTSIDE OFFERS FRONT PATIO, LARGE CARPORT, CONNECTED STORAGE ROOM, AND LARGE SHED. THERE'S EVEN ON-SITE BOAT AND RV STORAGE AVAILABLE. ONLY STEPS TO THE RIVERFRONT AMENITIES. FEEL SECURE KNOWING ALL RESIDENTS REQUIRE AN APPLICATION AND SCREENING FOR RESIDENCY. NO AGE RESTRICTIONS. SHORT TERM RENTAL OK. MINUTES TO BEACHES, RESTAURANTS, SHOPPING, AMERICAN LEGION, AND PUBLIC PARKS. 45 MINUTES FROM ORLANDO.
Source: STELLAR #NS1082895
Financials
Source: STELLAR #NS1082895
Source: Public records
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%. 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.
Other resourcesWhat 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.
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