1777 Wavecrest St, Merritt Island, FL 32952
3 beds · 4 baths · 3,144 sqft
Rare 2.25% Fixed VA Assumable Mortgage! This custom-built masterpiece boasts 3,144 square feet of meticulously designed living space on the Banana River. The gourmet kitchen features quartz countertops, premium stainless-steel appliances, induction stovetop, a pantry and ample cabinetry for storage. The open concept living, dining and kitchen is ideal for entertaining. Other notable features of this exceptional property include newly installed air conditioners, an aluminum roof with solar panels (no electric bill for 24 years!) and a two-car garage. Retreat to the spacious first floor primary suite with a jetted tub, separate shower and dual sinks w/makeup vanity. Two additional bedrooms, one with their own en-suite bath, provide comfort and privacy for family and guests. Relax in the heated saltwater pool, the covered lounging area or enjoy your coffee watching the sunrise from the dock. The home features a boat lift where you will have deep water access to the Atlantic Ocean. ======================================== !!!!!!!Rare VA Assumable Fixed 2.25% Mortgage!!!!!!! !!!!!!!No Electric payments for 24 yrs minimum !!!!!!!!! ======================================== Nestled along the tranquil banks of the Banana River in Merritt Island, this custom-built masterpiece offers a harmonious blend of elegance and serenity. Boasting 3,144 square feet of meticulously designed living space, this stunning residence is a haven for those seeking waterfront living. Step inside to discover an inviting ambiance accentuated by a beautiful view of the river. The open-concept layout seamlessly integrates the living, dining, and kitchen areas, ideal for both intimate gatherings and grand entertaining. The heart of the home, the gourmet kitchen, is a chef's delight, featuring brand-new Cambria quartz countertops, premium stainless-steel appliances, induction stovetop, a pantry and ample cabinetry for storage. Retreat to the spacious first floor master suite, where luxury meets tranquility and wake up to the beautiful river views. The en-suite bathroom completes your experience with a jetted tub, separate shower and dual vanity. Two additional bedrooms, one with their own en-suite bath, provide comfort and privacy for family and guests. Step outside to your own personal oasis and marvel at the unparalleled beauty of the river. Relax in the heated saltwater pool or in the covered lounging area. Mornings will be glorious as you enjoy your coffee watching the sunrise paint the sky in hues of orange and yellow. The included boat lift ensures effortless deep water access to the Atlantic Ocean in 20 minutes. Enjoy water activities from boating to fishing and beyond. Don't be surprised if you see dolphins, manatees and even sea turtles come right up to your dock. Other notable features of this exceptional property include luxury vinyl plank flooring throughout the first floor, newly installed air conditioners, an aluminum roof with solar panels and a two-car garage. Seize the opportunity to own a slice of paradise here in the Space Coast where you'll get to see the space launches in close proximity. With its unparalleled beauty, impeccable craftsmanship, and prime location, this home represents the epitome of waterfront living. Priced at $1,599,000, this rare offering won't last long. Schedule your private tour today and experience the allure of riverfront living at its finest!
Source: BREVARDMLS #1029434
Financials
Source: Public records
Source: BREVARDMLS #1029434
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.