17742 SE 106TH TER, Summerfield, FL 34491
THE BEST PRICED HOME IN SPRUCE CREEK SOUTH!! The buyer will replace roof before closing with accepted offer! Hurry up and take a look before it's gone. Upon arriving you notice the home is located at a very private culdesac with no homes on the left or across the street, only huge open spaces that give the feeling of being in the country. You can expect lazy mornings on your front porch sipping coffee and enjoying the peace and quiet. The back and side yards are substantial in size and contribute to the privacy you will enjoy. When you enter you will first notice the spacious living and dining areas with beautiful wood-like laminate flooring. Split bedrooms offer privacy to family and guests alike. The primary bedroom has a walk in closet and step in shower. There is a sizable hall closet for linens or other storage. In the kitchen you will find a place for a modest table and chairs but there is plenty of room for a good sized dining table just across from the kitchen. You will be surprised to find a large ‘extra room’ with a pass-through to the kitchen that could have numerous possibilities such as a family/entertainment room, or even a craft or exercise room. The two car garage has a pull down attic space and loads of storage cabinets lining two walls. There is also a laundry tub for those messy times. The garage is screened so you can work with the door open. In the back there is a small vinyl enclosed porch and an extra room for tools or hobbies or even just for more storage. Spruce Creek South has an impressive list of amenities: a 100,000 gallon outdoor heated pool and a hot tub, a 25,000 sq foot ballroom with a stage, a commercial kitchen for large events, a library, a billiards room, a craft room, a cards room, a fitness room with men’s and women’s shower and sauna, a nature area with trails, 2 RV storage lots (cost extra), lighted sand volleyball court, shuffleboard, horse shoes, Bauchi ball, 2 tennis courts and 6 pickle ball courts. Oh and don’t forget the softball field with men’s and women’s competitive teams and an airgun club room! Spruce Creek is a golf course community (with separate fees) and a restaurant and pro shop.
You may be able to put down less than the total down payment amount of $89,052 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: #g5083444