2200 Caravan Pl, Melbourne, FL 32940
4 beds · 3 baths · sqft
The Bridgewater home you have been waiting for! Stunning lake front 4 bedroom, 3 bath, 3 car garage home on one of the nicest lots in Viera! Spectacular open floor plan with plank tile throughout, 8' doors, tray ceilings, and plantation shutters on windows/ sliders! The gourmet kitchen delights with a 36'' cooktop, convection wall ovens, large island, and refrigerator even brews coffee!! Exterior was just freshly painted and accordion hurricane shutters on many windows! This rare sought after Boretto plan includes a front courtyard flanked by a two-car garage and a separate one car garage! Imagine having two paver driveways!! Situated on a 1/4-acre lot with the original trees from Viera's past, this home is surrounded by old world Southern charm while offering the modern conveniences of a like new, 4-year-old home! Active 55+ gated community offers a resort style clubhouse with heated pool/spa, fitness center, movie theater, lit tennis and pickleball courts and HOA does the lawncare!
Source: BREVARDMLS #1021153
Interest rate and monthly payment estimated based on public records.
Source: BREVARDMLS #1021153
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #1021153
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.