123 Old Mill Pond Rd, Edgewater, FL 32141
3 beds · 2 baths · 1,685 sqft
Here's an opportunity for you to have a spacious, well-designed home with a floor plan that maximizes both comfort and functionality. It's an Express Home by D.R. Horton, but the homeowners added a multitude of upgrades when it was built (please see attached list) so you don't have to - at today's high prices! As you enter the home, you can see the conservation area and you can also enjoy it while sitting on the enclosed porch. Because it is a conservation area, another home cannot be built behind you and spoil your view. There is a split plan for the bedrooms, with the master bedroom on one side of the house and 2 bedrooms on the other. The kitchen is great for entertaining because of the open floor plan so you can visit with your guests or family while you cook. The appliances are stainless steel by Amana. There are lots of cabinets in the kitchen and a large pantry for storage. The living room is comfy and the dining room has a view of the conservation area. The master bedroom is spacious with a walk-in closet and lots of natural light. The bathroom has dual vanity sinks, walk-in shower, a linen closet and a private water closet. The flooring is luxury vinyl planking which is waterproof and continues throughout the house, except in the two bedrooms which have carpet and the kitchen and bathrooms are tiled. The home is a Smart Home with ADT features to give you peace of mind, security and ease of control. Both the front and back yards have a sprinkler system that uses reclaimed water to keep the grass and trees lush at a low cost. Gutters keep the water away from the house and the foundation. There are storm shutters to protect you and your home. The porch overlooking the conservation area was screened in (as an extra at the time of the build) so you can sit and enjoy nature and the pretty sunsets. The location is very convenient for getting to the nearby beaches, parks, the Intracoastal Waterway for fishing and boating, restaurants, shopping and local events. There is something for everyone! Call to make an appointment for a showing.
Source: STELLAR #NS1083962
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Why Roam
Lower rates and lower down payments
The only homebuying option for you to put 5% down and get a 5% rate.
Closing guarantee
We can close in 45 days or we’ll pay the seller’s mortgage until we close.
Offer acceptance
95% of offers accepted when made with Roam. 5% accepted without.
Rates and payments are estimates based on public records.
Source: Public records
Source: STELLAR #NS1083962
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.