202 N Palm Ave, Howey In The Hills, FL 34737
3 beds · 2 baths · 1,604 sqft
Welcome Home to beautiful and quaint Howey In The Hills! This 3 bedroom 2 bath home boasts fairly new kitchen countertops and painted kitchen cabinetry, new appliances that have smart features, an eat-in kitchen, separate dining room or additional living area. The main living/family room is adjacent to the kitchen. Ceramic tile in the kitchen and bathrooms and wood laminate flooring throughout the remainder. Home has a smart thermostat that can be controlled by your phone. Large screened back patio, fenced backyard. Extended concrete side driveway/parking pad perfect for your boat and/or RV. There is also an additional concrete pad for a small storage/gardening shed. Nice size master bedroom with his and hers walk-in closets. You are just around the corner from Little Lake Harris on the Harris Chain of Lakes offering fantastic boating and fishing with public boat ramp (small fee) and fishing pier. Just moments away is the nature preserve, lakefront park, playground, library, restaurants and nail and hair salons. Minutes from the Florida Turnpike making for easy commute to Orlando International Airport, downtown Orlando and Central Florida attractions. Close to world renowned Mission Inn Resort community, famous Yalaha German Bakery and Tavares which offers fly-in seaplanes. You're sure to fall in love with the "small town" tranquil "Old Florida" feel of this community. Assumable low-rate VA loan is an option.
Source: STELLAR #G5094914
Financials
Source: Public records
Source: STELLAR #G5094914
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.