201 ELM VIEW CT, Brandon, FL 33511
***PRICE IMPROVEMENT*** Welcome home to this spacious and sophisticated home located in the exclusive gated community of Lumsden Reserve. This quaint community was built by the esteemed and award-winning Hyde Park Builders. The first level of this beauty offers an open floor plan and a separate spacious dining area. There's no shortage of storage in this well-appointed kitchen that offers 42” cabinets that are 2 tone white and gray with accenting granite counter tops and breakfast bar. The kitchen also offers 2 walk in pantry/storage closet. Off of the living room you can exit through the french doors onto your covered and screened in 12x9 lanai. There is also a separate garden area for you to enjoy. You will also find a full bathroom and a generous sized bedroom that can be used for a guest room or an office with a bay window to enjoy the outside view. As we transition to the second level you are greeted to a small loft/landing area. As you enter the primary bedroom through the fench doors, you will be amazed by the sheer size of this room. it is currently configured to have a sizable sitting area 15x17, separate sleeping area 10x11 and a MASSIVE walk-in closet that is 10x12. And did i mention, you have your own screened in lanai? This primary suite would be great for a multi-generational household or for the person that just likes to have their own getaway for the rest of the house. The en-suite boasts double vanities, a soaking tub and separate shower. Also located on the second floor are 2 generous sized bedrooms, both with walk in closets. The dedicated laundry room is also located on the second floor. While I have pointed out the spaciousness of the home, let's not overlook the quality of craftsmanship and elegant touches this beautiful home has to offer. Schedule your private tour today. Copy and paste this URL for a quick 90 second video of the property: https://iplayerhd.com/player/video/8f073522-0ac4-47fd-9025-30cc9e964a42
You may be able to put down less than the total down payment amount of $231,130 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: #t3549171