1413 45th St, Orlando, FL 32839
4 beds · 2 baths · 1,603 sqft sqft
Excellent location. Property with 4 bedrooms and 3 bathrooms. You may qualify for 100% financing and a contribution of up 3% toward closing cost. The home may not be connected to a well nor City water. The buyer is responsible for completing their due diligence and home inspections to verify water and septic/sewer connections. The home is being sold in As Is condition. The home is being Sold in As Is condition without any Warranty nor Guarantee by seller. The buyer is responsible for verifying ALL property information, room sizes, utilities and condition. The buyer must deliver an updated copy of the pre-approval letter or Proof of Funds dated within 30 days. The escrow deposit must be in form of Certified Funds and the check must be delivered to the Listing Broker within 48 hours of bid acceptance by HUD. The escrow check must be payable to the Buyer's closing Title Agent listed on the initial bid. Do Not make the escrow check payable to the Listing Broker and Do not wire nor deliver the escrow check to the title company. Failure to deliver the escrow check and pre-approval letter within 48hours will result in bid cancellation by HUD and no extensions will be granted. The home has no water service. The buyer is responsible for installing a well or connecting to City water after the closing.
Source: STELLAR #s5109154
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #s5109154
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.
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: #s5109154