2005 N SPARKMAN AVE, Orange City, FL 32763
One or more photo(s) has been virtually staged. 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.
You may be able to put down less than the total down payment amount of $64,526 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: #o6209123