2507 Milton Ave, New Smyrna Beach, FL 32168
3 beds · 2 baths · 1,170 sqft
Welcome to 2507 Milton Ave, a charming and fully renovated home nestled in the heart of New Smyrna Beach, FL. This beautifully updated property offers a perfect blend of modern amenities and coastal charm, just minutes away from the NSB Municipal Complex, Turnbull Bay, the Intracoastal Waterway, and the beach. The home features a newly renovated kitchen with contemporary finishes, new cabinetry, and high-end appliances, ideal for both cooking and entertaining. Stylish, durable luxury vinyl flooring runs throughout the home, offering a sleek, modern look that is easy to maintain and perfect for coastal living. A cozy fireplace in the living area serves as a charming focal point, perfect for relaxing evenings or adding warmth and ambiance on cooler nights. Recent updates include a brand-new roof, replaced in 2023, providing peace of mind and long-term durability. The property also offers the freedom of no HOA, allowing for flexibility and privacy. Ideally located, the home is just minutes from the NSB Municipal Complex, Turnbull Bay, the Intracoastal Waterway, and the pristine beaches of New Smyrna Beach, offering easy access to all the natural beauty and amenities the area has to provide. This beautifully renovated property provides the perfect coastal lifestyle. Don’t miss your opportunity to make 2507 Milton Ave your new home!
Source: STELLAR #NS1083529
Financials
Source: Public records
Source: STELLAR #NS1083529
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.