2005 N Sparkman Ave, Orange City, FL 32763
3 beds · 1 baths · 1,268 sqft
Under contract-accepting backup offers. One or more photo(s) has been virtually staged. MOTIVATED SELLERS! NO KNOWN ISSUES FROM HURRICANES! This home is the perfect combination of Old Florida charm and modern convenience. Situated on a .36 ACRE LOT with NO HOA, the possibilities are endless. There is space for a pool, boat or RV parking, playsets, parking for multiple cars, gardens, detached garages or workshops, etc. Though it offers ample acreage, it is still only about 5 miles from Downtown Deland, 2.5 miles from Blue Springs State Park, and just minutes from conveniences such as urgent care medical facilities, restaurants, gas stations, and shopping. Inside the home, the beauty of the genuine HARDWOOD FLOORS will immediately stand out. The bathroom has been tastefully-updated with new flooring, fixtures, and tile within the shower/tub space. Multiple AC units have been recently replaced. The kitchen features refurbished cabinets, brick backsplash, a newer stainless steel refrigerator, large farmhouse-style sink, and granite countertops. The storage cabinet/bureau in the kitchen conveys with the sale. There is no shortage of space from which to enjoy the outdoors, as the home boasts a front porch and spacious side lanai (with all new screens). The back bonus room or 3rd bedroom is spacious, making it an excellent candidate for office or work-from-home, playroom, crafting, storage, or media/movie space. It also has its own entrance, so it could be turned into an IN-LAW SUITE. This is a rare find on older properties, but this home features an INTERIOR LAUNDRY ROOM! Enjoy a rural feel and some elbow room between neighbors, while being just minutes away from modern amenities.
Source: STELLAR #o6209123
Source: STELLAR #o6209123
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #o6209123
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.