1531 Jefferson Dr, Mount Dora, FL 32757
2 beds · 1 baths · 828 sqft sqft
Some exterior photos are virtually edited. Extensively updated concrete block home is ready for its new owner! Located in the picturesque town of Mount Dora, this 2-bedroom, 1-bathroom residence has been extensively updated over the last few years. New gas line from the street, gas on-demand water heater (2020) and new HVAC system (2022), offering efficient and reliable comfort year-round. The roof was replaced in 2018. As you step inside, you'll immediately notice the new tile flooring that runs throughout the home. The kitchen was completely renovated in 2019 and boasts modern fixtures and finishes along with granite countertops. Natural light pours in through the brand-new double pane windows, enhancing the bright and airy atmosphere of the living spaces. The bathroom has been updated with contemporary design elements. Safety and efficiency have been prioritized with a new electrical panel and updated outlets, including GFCI protections in key areas. The entire home has been re-plumbed, ensuring peace of mind for years to come. There is very little to do to make this home your own. Set in the lovely town of Mount Dora, this home offers the perfect blend of small-town charm and modern amenities. Enjoy the vibrant local culture, unique shops, and beautiful lakeside parks that make Mount Dora a truly special place to live. Close to city parks, schools and major roadways. Don't miss your opportunity to own this updated ranch-style home. You truly have to see this home to appreciate the extensive updates that have been done. Excellent starter home or investment property. Seller is offering one-year AHS Shield Essential Home Warranty up to $450.00. No blind offers please.
Source: STELLAR #g5083507
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #g5083507
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: #g5083507
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