18408 New London Ave
Land O Lakes, FL 34638
5 beds · 3 baths · 3,390 sqft
$539,900
Get prequalifiedAbout this home
Welcome to this stunning 5-bedroom, 3-bathroom home with a 3-car garage, located in the sought-after Asbel Estates community. This property sits on a pristine pie-shaped lot at the end of a cul-de-sac, offering picturesque lake and conservation views from multiple rooms. Upon entering, you'll find a formal living and dining room to the right, and straight ahead, a spacious family room that's pre-wired for surround sound. The kitchen is generously sized at 20x12 and features an eat-in area, 42-inch cabinets, a true double oven, stainless steel appliances, a tile backsplash, and a large closet pantry. An opening/breakfast bar connects the kitchen to the family room, perfect for entertaining. Adjacent to the family room is a first-floor bedroom with a large walk-in closet and a dedicated bathroom that also serves as a pool bathroom, making it ideal for guests. The laundry room is conveniently located in this section of the home. The family room opens to a screened and covered lanai with breathtaking lake views, and the backyard has ample space to add a large pool if desired. Upstairs, you'll discover the expansive primary suite, measuring 27x15, which includes a sitting area, a large walk-in closet, and double doors leading to the primary bathroom. This luxurious bathroom features a soaking tub, an oversized separate shower, double vanities, and a private water closet. The second floor also boasts a bonus/flex/theater room and three additional spacious bedrooms. Energy efficiency is a highlight of this home, with a newer solar panel system—fully paid off by the seller at closing—combined with double-pane Low-E windows, ensuring significant savings on your energy bills. Additional features include a security system and an intercom system.The community offers low HOA fees and no CDD fees, and the home is zoned for excellent schools. Don’t miss out—schedule your showing today!
Source: STELLAR #W7867412
Neighborhood
FAQs
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.
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.
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.
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.
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 “Save search” 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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
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