1244 Woodridge Ct, Altamonte Springs, FL 32714
3 beds · 3 baths · 1,811 sqft sqft
One or more photo(s) has been virtually staged.*****Assumable FHA loan with an interest rate of 3.5%. Save hundreds monthly, call your local realtor for more information****** Plus updated 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 $398k with a monthly payment of $2,834.94 Plus have the remaining balance of the contract sale price.
Source: STELLAR #o6232208
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #o6232208
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #o6232208
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.