2181 EAU CLAIRE AVE, Deland, FL 32724
This amazing .87 acre corner lot property offers a blend of historic charm and modern amenities. Originally a 2 bedroom, 1 bath home with a country cottage porch, it was significantly expanded in 1999. The previous owners added a beautiful open concept floor plan, featuring a gourmet kitchen, dining room, great room, utility laundry room, an additional master bedroom and bath, as well as another bedroom and Jack and Jill bath. Making it a 4 bedroom, 3 full bath, offering 2872 sq. ft. of spacious living area. This design is perfect for the front part of the home to be an IN-LAW SUITE WITH ITS OWN PRIVATE ENTRANCE. In 2007 they added a 24 x 35 addition with a full bath for the pool, complete with an enclosed screen pool area and deck. The current owners had windows added making it fully enclosed addition. Additionally, the property includes a 24 x 20 studio apartment on second level, lower level was a 1960's fallout shelter of concrete outer building with separate meter, ideal for guest or rental income. For those who enjoy raising chickens, there is an 18 x 16 CHICKEN COOP. The property also features an 11 x 11 concrete workshop, a 9 x 11 shed that houses the well and soft water system, and an 11 x 20 Aluminum shed for storing lawn and gardening equipment. This property is fully fenced with beautiful vinyl fencing, providing ample space for your fur babies, or entertaining family and friends. There is plenty of space to bring all your outdoor toys, boat and RV. ROOF 2020. Solar Panels were added in 2021 and will be paid off at closing. AC SYSTEM replaced 2021 HOT WATER HEATER 2021, SOLAR SYSTEM added 2021 and will be PAID OFF AT CLOSING. VINYL FENCING 2021
You may be able to put down less than the total down payment amount of $246,392 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: #v4937042
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.