2520 El Rancho Dr, Leesburg, FL 34748
4 beds · 4 baths · 3,175 sqft
Welcome to your lakeside sanctuary! This exquisite 4-bedroom, 3.5-bathroom home on nearly 2 acres is a rare gem offering the perfect combination of luxury, privacy, and natural beauty. With LOW PROPERTY TAXES, this is a prime opportunity to own a tranquil retreat with stunning lake views and modern comforts. The home welcomes you with a NEW ROOF and an open floor plan that effortlessly flows between the living, dining, and kitchen areas. The gourmet kitchen is a chef's delight, featuring granite countertops, upgraded appliances, and ample cabinet space, all bathed in natural light from a large bay window. Two master suites, each with a private bathroom, provide the ultimate in comfort and convenience. The oversized master suite is a true retreat, boasting vaulted ceilings, a cozy fireplace, dual walk-in closets, and a luxurious bathroom with a garden tub—perfect for unwinding after a long day. Step outside and experience resort-style living with an in-ground pool, expansive patio, outdoor shower, and kitchen area, ideal for entertaining or soaking in the serene surroundings. The massive backyard gently slopes towards your private lakefront, offering the perfect setting for relaxation or water activities. For hobbyists or those in need of extra storage, the 1,800 sqft workshop with RV storage opens the door to endless possibilities, whether it's for creative projects, a home business, or additional space for your toys. Enjoy the best of both worldspeaceful lakeside living, yet less than 10 minutes from The Villages and central Leesburg, with easy access to shopping, dining, and medical services. Don't miss out on this extraordinary property, a true lakeside retreat with unbeatable value!
Source: BREVARDMLS #1027673
Interest rate and monthly payment estimated based on public records.
Source: BREVARDMLS #1027673
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: #1027673
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.