216 Ocean Dr, New Smyrna Beach, FL 32169
3 beds · 2 baths · 2,402 sqft
Executive pool home, one house from the beach walk over in exclusive north beach. This home is part of the Minorca Amenities that include clubhouse, tennis courts, work out gym and fishing dock on the Intracoastal. The glass enclosed pool has patio room for Bar-b-ques and great parties. Curb appeal is marvelous with stately columns. Ceilings are 12 ft plus giving a feeling of elegance. This 3 bedroom 2 and half bath home also has an office with granite counters. There is also a dry bar and a wood burning fireplace. The great room layout includes granite counters, dropped pot lighting and very large amounts of kitchen storage. The master bedroom is 27 feet longs and its master bath is very large with a garden tub and a shower and a private toilet stall. The powder room off the living room is perfect for entertaining. House has R-30 attic insulation and has been recently painted on the interior. This Inlet Villas Subdivision is part of the Minorca subdivision whish is oceanfront and riverfront with rights of use for each. Room marked Florida room is the enclosed pool area. Roof is less than 3 years old. 200 amp service. Natural gas is available on Ocean Dr ;Water: City.HOUSE HAS JUST BEEN REPAINTED ON THE OUTSIDE
Source: STELLAR #NS1083371
Financials
Source: STELLAR #NS1083371
Source: Public records
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%. 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.
Other resourcesWhat 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.
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