1502 Montcalm St, Orlando, FL 32806
3 beds · 2 baths · 1,383 sqft sqft
**PRICE IMPROVEMENT**This beautifully updated 3-bedroom, 2-bathroom gem is move-in ready and filled with modern upgrades. You'll fall in love with the sleek stainless steel appliances, luxury vinyl flooring throughout, and the peace of mind that comes with a brand-new roof. The open-concept kitchen and living area is the heart of the home, featuring chic cabinets, upgraded countertops, and a spacious island—perfect for entertaining or everyday family life. The adjoining dining space includes a wet bar, ideal for hosting gatherings. The private primary suite offers direct access to the backyard, an oversized walk-in closet, and a newly upgraded master bathroom complete with a walk-in shower. Two additional bedrooms and a full shared bathroom are located on the opposite side of the home for added privacy. Enjoy the convenience of an inside laundry closet with a washer and dryer, and step outside to a fenced backyard featuring a screened-in patio, storage closet, and a shed with its own lighting and A/C. The front of the home offers plenty of parking with a half-circle driveway. Located in the highly desirable Pershing Terrace neighborhood with no HOA, this home is minutes from ORMC, the SoDo District, and all the conveniences of nearby Target, Publix, and dining options. You're also just a short drive from Lake Conway and Downtown Orlando, making it easy to enjoy the area's recreational and entertainment opportunities. Don't wait—schedule your showing today and discover the perfect blend of style, comfort, and location!
Source: STELLAR #o6219641
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #o6219641
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: #o6219641
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.