1244 WOODRIDGE CT, Altamonte Springs, FL 32714
One or more photo(s) has been virtually staged.***** Buy this now and get a 3.5% interest rate, call your local realtor for more information****** Plus current price reduction makes this the best deal in the market today ***** Welcome to your dream home in the distinguished, semi-gated community of Altamonte Springs, just minutes from the vibrant heart of downtown Orlando. This stunning 3-bedroom, 2.5-bathroom executive residence boasts an amazing blend of luxury and comfort. As you step inside, you’ll be greeted by soaring cathedral ceilings that create an airy, open atmosphere throughout the home. The expansive living areas are adorned with newly installed flooring that complements the home's elegant design. The heart of this home is its fully remodeled kitchen, featuring sleek granite countertops, state-of-the-art appliances, and custom cabinetry, making it a perfect space for both everyday living and entertaining guests. Retreat to your master suite, where you can enjoy serene lake views and a spa-like en-suite bathroom. Two additional well-appointed bedrooms provide ample space for family or guests. Step outside to your private oasis: a beautifully landscaped backyard with a pristine swimming pool, offering a picturesque view of the serene lake. This outdoor space is perfect for relaxing or hosting gatherings in style. Additional features include a roof that’s only a few years old, ensuring peace of mind and durability. Don’t miss the opportunity to own this exceptional home where modern elegance meets tranquil lakeside living. Schedule a private showing today and experience the ultimate in Florida luxury living! To get the 3.5% rate the buyers must qualify with the current lender and assume the remaining 28-year mortgage of roughly $498k with a monthly payment of $2,834.94 Plus have the remaining balance of the contract sale price.
You may be able to put down less than the total down payment amount of $132,562 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: #o6232208