124 MAGNETA LOOP, Auburndale, FL 33823
Welcome home to the STUNNING and HIGHLY DESIRABLE community at THE ESTATES OF AUBURNDALE! Rare to find, this fantastic opportunity to own a beautiful home on the perfect lot with tree lined streets. This UPDATED, 2 STORY, 4 BEDROOM, 3 BATH, 3 CAR GARAGE with a LARGE THEATER ROOM and separate OFFICE that sits on 1/4 ACRE LOT, boasts over 2900+ sf of living area and a total of 3,705 sf. Upon entering the home, you are welcomed into a gracious interior comprised of spacious living areas and the flow of natural light. Immediately to the left are two bedrooms with BAMBOO FLOORING, WALK-IN CLOSETS WITH BUILT INS and HIGH CEILINGS and a full bath. Enter into the CHEF’S KITCHEN, with GRANITE COUNTERTOPS, STAINLESS STEEL APPLIANCES, SOLID WOOD CABINETS, breakfast bar, dinette area and a pantry. Off the kitchen is a family room & dining room with LARGE CERAMIC TILES and PATIO SLIDERS that offer the perfect environment for entertaining. Enjoy the WATERVIEWS and FOUNTAIN from the Kitchen, Family, Master Bedroom and Lanai. The master suite also has breathtaking WATERVIEWS and a EN SUITE BATHROOM you will never want to leave. The master bathroom was renovated in 2017 and now features a LUXURIOUS SPA STYLE SHOWER with DUAL SHOWER HEADS and a RAIN SHOWER feature. The DUAL SINKS with exquisite MARBLE COUNTERTOPS and the SPACIOUS WALK-IN CLOSET add to the elegance of the master suite. Also on the first floor you will find another EXTRA LARGE BEDROOM/DEN/OFFICE to use as you like. The spacious, dedicated laundry room has a wash tub for extra convenience. This home has a 50 AMP OUTLET and a 30 AMP OUTLET to use with your generator or whatever you may need. This home is just a short walk to the school bus stop or stroll down to the community pool which has an adult pool, kiddie pool, playground, basketball courts and a TORTOISE HABITAT that is a must see! Come out for a visit and see why this beautiful abode is truly an exceptional value! Centrally located and just Minutes from I-4 and the Polk Parkway.
You may be able to put down less than the total down payment amount of $214,958 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: #p4930778
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.