1617 MYRTLE LAKE AVE, Fruitland Park, FL 34731
Short Sale. ALMOST 1/2 ACRE LOT AND NO ONE BEHIND YOU!! HUGE HOME , HUGE YARD, LOTS TO OFFER!!! Plenty of living space and the largest lot in the community of The Glen!!! This home features 5 bedrooms and 2.5 baths with over 3000 square feet of living space. Plus you will not have to worry about the 2 items that are usually the most costly because you have a NEW roof that has recently been replaced and NEW AC units that have replaced recently as well!!! When you walk through the doors you will be amazed with how high the ceilings are that elevate up to the 2nd floor. The kitchen has plenty of cabinet space and a wonderful island that overlooks the large living room which will make entertaining in this home easy. Also downstairs is a formal dining room and an extra room that can be used as an exercise room or man cave. Walking upstairs you will find 5 bedrooms and 2 full baths. One of the bedrooms has upgraded built ins that can be used to display your valuables or as a large closet! The master bedroom is huge and has its own private master bath. Master bath features garden tub and a walk in shower. Back downstairs you can walk through the custom French doors in to a private sanctuary screened porch that overlooks the enormous back yard. One of the best features of this home is that the extra large lot backs up to a conservation area and you will have privacy in back since no one can build on it.
You may be able to put down less than the total down payment amount of $158,489 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: #g5072592