156 MAITLAND AVE, Altamonte Springs, FL 32701
HUGE 3 bedroom, 2 1/2 bathroom condo that looks over the pool, with lake views too!! Almost 1,800 sq ft! Located in the very desirable Lake Villas community in Altamonte Springs, with direct access to Lake Orienta, a chain of 5 lakes. This townhouse is VERY spacious. There is a cozy front porch overlooking the front garden, with sliding doors that lead to the kitchen. Great space to BBQ or just relax. The kitchen has room for a table, creating a space for eat in- kitchen. There’s an appointed closet for full size washer/dryer and built-in shelving. There is also a whole wall of additional closet/pantry space, a well appointed kitchen. There is a pass thru window from the kitchen to the dining room, a great addition for entertaining.. There is also a large patio on the back of the home, which is screened-in for comfort and overlooks the pool with views to the lake. The primary suite is over-sized, with private en-suite bathroom and 2 extra large walk-in closets. There are views of the lake and pool from the primary bedroom. Other two bedrooms are very spacious, with great closet space. Sunken Living room and dining room are very large. Drop your boat in the water and fish from your backyard, go water skiing or paddle board. Conveniently located just minutes from I-4, Altamonte Mall, Florida Hospital and many other shopping and restaurants. Monthly HOA fee covers just about everything except power, included in HOA is: lawn care, high speed WI-FI, basic cable, master insurance policy, 2 community pools & wading/child pool, community clubhouse, and all exterior maintenance including roof. Tons of nearby restaurants, some close enough to walk to, lots of nearby shopping, the Altamonte Mall, movie theaters and close to hospital. Seller was going to update flooring but decided to let new buyer create their own space, ready for your design. New electrical panel 2024. New Roof 2022 is covered by HOA.
You may be able to put down less than the total down payment amount of $96,379 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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: #o6229324
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.