142 Magellan Ct, Davenport, FL 33837
2 beds · 2 baths · 1,617 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Welcome home to Del Webb Orlando! Truly exceptional 55+ resort-style living located in the gated golf community of Ridgewood Lakes convenient to shopping, hospital, restaurants, theme parks, airport and just a little over an hour to some of the world's most beautiful beaches! Experience STYLE, QUALITY, and CLASS in this lovely 2-bedroom, 2-bathroom home, complete with an office/flex space with easy conversion to 3rd bedroom. DREAMY PARK LIKE BACK YARD with FILTERED LAKE VIEWS! Indulge in a luxurious lifestyle at one of Del Webb Orlando's most sought-after locations, nestled on a serene cul-de-sac that borders the Tree of Life Park/Lake and WHITE HERON GOLF COURSE. This community has NO CDD! Need accommodation for a larger vehicle? The garage features a 4-foot extension with Epoxy Flooring perfect for over-sized vehicles. The home showcases beautiful BAMBOO PLANK FLOORING and PORCELAIN TILE in bathrooms. NO CARPET! The spacious Gathering Room seamlessly connects to the Kitchen and Dining Room creating an inviting, open atmosphere with stunning views of the backyard. The kitchen features Natural Gas range and granite countertops. Split bedroom layout ensures maximum privacy with the Primary Suite located at the rear of the home overlooking picturesque views. The Primary bath is designed with dual vanities and a luxurious tiled shower and separate garden tub. Private commode. Ample walk-in closet with built-in's makes organizing a breeze! Enjoy the best of indoor/outdoor living and entertain guests on the expansive, partially covered and extended Lanai. Bringing a furry friend? You will love the dog park with separated areas for large and smaller pups, complete with a doggie water station! The resident owned Montecito Clubhouse is a state-of-the-art facility with 30,000 square feet of amenities. Complete with fitness center, indoor walking track, dance/aerobic studio, ballroom, craft rooms, resort-style outdoor pool, and even an indoor pool and hot tubs! Grab a bite to eat and your favorite beverage at La Tapenade Tavern where you can also enjoy live music, karaoke, trivia, and bingo Wednesday - Saturday. Looking for more activities? Try your hand at pickleball, shuffleboard, tennis, bocce ball, or basketball. How about a relaxing day playing golf at Ridgewood Lake's White Heron Golf Club? Take a stroll along the picturesque walking paths by the beautiful lakes or try your luck hooking a fish on the fishing dock. 24/7 GUARDED GATE ACCESS. You're just minutes away from everything you need. Shopping centers, medical facilities, hospitals, DISNEYWORLD, UNIVERSAL STUDIOS, and Legoland. 1.5 hours to the Atlantic Coast, and gulf coast and driving distance to cruise ports. Call today to schedule your private showing!
Source: STELLAR #S5120343
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: STELLAR #S5120343
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.
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.
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.
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.
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 “Save search” 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.
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 620, 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.