1602 Pine Ridge Dr, Davenport, FL 33896
5 beds · 4 baths · 3,102 sqft
Spacious 5-Bedroom, 4.5-Bathroom Pool Home Step into this expansive, beautifully renovated home that offers an ideal blend of modern updates and luxurious comfort. Featuring 5 bedrooms and 4.5 baths, this residence is perfect for families or investors seeking a short-term or long-term rental opportunity. The first floor offers formal living and dining rooms, along with a family room and an open, eat-in kitchen equipped with modern finishes, abundant cabinets, and ample counter space, making it perfect for both everyday living and entertaining. There’s also a first-floor bedroom with its own ensuite bath and a convenient half-bath for guests. As you head upstairs, you're greeted by a large loft, perfect for a gaming area, lounge, or home office. The oversized primary suite is a peaceful retreat, featuring a spacious walk-in closet, a soaking tub, a step-in shower, and plenty of space to unwind. Additionally, you'll find 3 more generously-sized bedrooms—one with its own ensuite bath, while the other two share a full bath. Convenience continues with a large laundry room on the first floor, offering ample space for additional storage. Step outside through sliding doors to your private, enclosed pool, complete with a covered lanai and access to the pool bathroom—perfect for enjoying sunny Florida days. The fully fenced backyard offers a safe haven for your furry family members. Major updates include a whole-home renovation in 2019, a new roof in 2021, and owned solar panels also installed in 2021, making this home energy-efficient and ready for years to come. Located near Champions Gate, this home is just minutes from shopping, highly-rated restaurants, I-4, and world-renowned theme parks. Don’t miss out on the chance to make this stunning home yours, whether as a primary residence or a profitable investment!
Source: STELLAR #O6283018
Financials
Source: Public records
Source: STELLAR #O6283018
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.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.