225 LOBELIA DR, Davenport, FL 33837
Beautiful 2 STORY HOME IN HOLLY HILLS ESTATES! $$$10K Seller's Concessions for your Buyer to use it towards their closing cost!!!!This spacious 4 bedroom, 2.5 bath home has everything you've been looking for and more. This well thought out design features a front room that can be used as a formal living or dining room, a flex space that would be great for an office or even a 5th bedroom! The large gathering or family room is at the heart of the of this home that connects with the spacious kitchen with sliding glass doors leading out to a great open patio space and backyard where you can enjoy the gorgeous Florida weather year-round. The well-equipped kitchen features wood cabinetry, two corner pantries, double sinks, one with a look-out window to the backyard, all open to the dining space and gathering room for effortless entertaining! The owner’s suite is privately situated and spacious on the upper level with an end suite bath featuring a garden tub, shower and two walk-in closets. All the bedrooms are generously sized w/nice closet space and ceiling fans. The upstairs hall bath features a beautiful sink vanity and recent updated cabinet. Special highlights include neutral colors with lots of windows for plenty of natural light throughout, warm wood laminate flooring upstairs. Storage is abundant throughout, with linen and storage closets, laundry room is located in the first level, plus a 2-car garage. Exterior features include coach lights, front yard irrigation, great shade trees for both the front, with a fully fenced back yard. Located in a well-established community and conveniently located near restaurants, local eateries, golfing, shopping, medical facilities, the Orlando International Airport, all the Orlando and Central Florida attractions beaches, and I-4 and US-27 for easy commute. Call me for private showings!!!
You may be able to put down less than the total down payment amount of $179,876 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: #o6239139