18550 LAKE EMMA DR, Groveland, FL 34736
Looking for the perfect place to live life on your own terms? Look no further: No HOA! Private neighborhood Boat Dock! Almost an acre of land - where you can park your boat and RV, and no-one will give you a hard time about it! This lovely, well-maintained 3 bed, 2 bath, 2 car garage, 2122 sq.ft. home offers all of this in a quiet setting, and at the same time is convenient to town when you need to be. Upon entering, you will enjoy an Open Floor Plan, with an oversized Family Room / Dining Room combo, a wood burning fireplace and vaulted ceilings: providing a great place to gather plenty of family and friends for the upcoming holidays! The kitchen has a bar that also opens to the Family Room, also open to the family room, creating great flow, so that everyone is connected and can visit easily. The kitchen offers stainless steel appliances, has a built-in over, and cooktop, and lovely French Doors that take you to your huge back patio, currently screened in, (but windows for closing it in are on-site.) Split Bedroom plan, with Oversized Primary Bedroom on one side with en-suite bathroom with separate tub and shower, and two more bedrooms on the other side with the second bath in between. Inside Laundry Room conveniently located in the large primary bedroom closet. Established, friendly, smaller neighborhood, where neighbors actually get to know one another, and are there when you need them. The hard-wired security system comes with the house, featuring 16 exterior view cameras that you can monitor from inside (see photos). There is also storage shed out back for lawn equipment, etc. Beautifully landscaped with lush lawn, oaks, palms, crepe myrtles and more, for that perfect Florida feel. Come see your forever home today, leave the HOA behind, and enjoy your property the way you should be able to.
You may be able to put down less than the total down payment amount of $320,089 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: #o6233223
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.