1671 LORALYN DR, Kissimmee, FL 34744
As Is. Seller found a house motivated to sell. Brand New Roof onux Owen Corning. Welcome to this charming property nestled on a spacious . 0.80-acre lot in Kissimmee, offering the perfect blend of tranquility and convenience. Situated in an area free from homeowner association regulations, this residence provides a rare opportunity for comfortable living without the added restrictions. Boasting a prime location, this home is a mere 5-minute drive from essential amenities such as the FL Turnpike, Valencia College, Downtown Kissimmee, and the burgeoning Neo city development. Built with enduring strength in 1973, this beloved home has been meticulously maintained and thoughtfully updated to meet modern standards. Upon entering, you'll be greeted by a newly added Quartz island in the kitchen, a haven for culinary enthusiasts seeking both style and functionality. The kitchen seamlessly flows into a spacious family room, creating an inviting space for gatherings and relaxation. Numerous updates enhance the appeal and functionality of this residence, including a new AC system installed in 2020 and a new Water Pump for the well, ensuring optimal comfort and efficiency. In 2022, both the home's electrical panel and wiring were updated, and the plumbing was completely replumbed, providing peace of mind for years to come. Beyond the confines of this exceptional property, the vibrant community of Kissimmee offers an array of recreational opportunities. From the scenic Lakefront Events and Heritage Park just 10 minutes away to The Loop, a premier shopping and dining destination a mere 15 minutes from your doorstep, every convenience and entertainment option is within easy reach. With neighboring million-dollar homes, the intrinsic value of the land alone is evident, presenting an unparalleled investment opportunity. Schedule your showing today ! Assumable mortgage at 5.625%
You may be able to put down less than the total down payment amount of $53,714 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: #t3517222