1481 Bourke Ln, Melbourne, FL 32940
4 beds · 3 baths · 2,806 sqft
Capron Ridge - Spacious 4-Bedroom 2.5 Bath Home with Loft & Resort-Style Amenities! VA ASSUMABLE LOAN OPPORTUNITY with 4.25% rate. Ask for more info! Nestled in the sought-after gated community of Capron Ridge, here you will find both comfort and style. Upon arrival, you'll be welcomed by a paver driveway and charming front rocker porch. Inside, the open-concept design seamlessly connects the living and dining areas, featuring engineered hardwood flooring, while the kitchen and family room boast tile flooring, quartz countertops, stainless steel appliances, ample cabinet space, and a cozy breakfast nook. A separate dinette area provides additional space for casual dining. Upstairs, the four bedrooms and versatile loft space offer flexibility for a home office, media room, or play/living area. The primary is nicely oversized. The interior laundry room is conveniently located on the second floor for easy access. Step outside to your private backyard retreat, featuring a pergola with a propane firepit, string lights, and a fully fenced yard with white vinyl fencing perfect for relaxation or entertaining. Whole home water filtration system and updated HVAC with UV light are recent updates! Capron Ridge is more than just a neighborhood it's a lifestyle. Residents enjoy: Resort-style community center with a serving kitchen, fireplace, and seating area there is a Expansive heated lap pool with a palm tree-lined deck and lakeside views. A Tot lot, picnic pavilion, soccer field, beach volleyball, basketball, tennis & pickleball courts and miles of private walking trails with lighted sidewalks, docks, and scenic pathways. The community offers four docks, one bridge, and shuffleboard courts. Located just minutes from shopping, dining, and top-rated schools, this home offers the perfect blend of tranquility and convenience. Schedule your private tour today!
Source: BREVARDMLS #1040646
Financials
Source: BREVARDMLS #1040646
Source: Public records
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%. 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.
Other resourcesWhat 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.