263 Palm Ln, Clermont, FL 34711
3 beds · 2 baths · 1,795 sqft sqft
ATTENTION: Hurricane Milton didn't touch this mammoth masonry structure ! Don't miss this rare opportunity to own a prime example of Streamline Moderne architecture that emerged during the Art Deco era in the 1930s. This is a must-see property located in the desirable Clermont Heights Neighborhood, within Clermont’s historic district. This gem offers no HOA, an oversized lot, tons of privacy and storage, fruit trees, and great views of Lake Minnehaha. Move in ready with fresh interior and exterior paint, modern plumbing and electric, updated kitchen and baths. As you enter the home, you will find a big, bright combined living and dining room with a large fireplace. The adjacent kitchen presents a clean, bright, and practical design. Two bedrooms, a laundry room and a full bath complete the main floor living space. Upstairs is your dream master suite, featuring two additional tandem rooms, a walk-in closet, and a well-appointed bath. This unique suite provides the perfect space for the Master bedroom plus a nursery, home office, home gym, theater room, bedroom, etc. From the second story suite, follow the curved staircase up to the third level to experience the roof top deck. This 24 ft X 24 ft rooftop hideaway offers open air, panoramic views of the lake and features a brand-new commercial style, tar & gravel (BUR) roof. There is plenty of storage with the garage off the kitchen and a daylight, walk out basement below. Need more? Seamlessly matching the original Streamline Moderne design, the owners have commissioned a full set of engineered plans for a detached, oversized, 2-car garage with an above guest apartment / in-law suite, plans to convert the existing garage into additional bedroom space and adding a main level deck off the back of the home. Clermont’s nickname is Choice of Champions® for good reason. Clermont is home to: the internationally known National Training Center (where numerous Olympic Medalists have trained), Lake Sumter State College, the Clermont Arts and Recreation Center (enjoy theater, gymnasium, meeting space, community pool), the South Lake Fitness Trail, the Clermont Chain of Lakes (famous for boating and world class fishing), Lake Louisa State Park, Clermont’s Waterfront Park, 5 Golf Courses, an annual Collegiate Fast Pitch Softball Tournament, triathlons, dragon boat rowing, dog parks, the South Lake Hospital, bird watching and more. Historic Downtown Clermont is a vibrant place with year-round activities: farmers market, on-site breweries, waterfront restaurants, antique shops, galleries and many cultural events. Future plans for Clermont include the Olympus Sports Complex which will have an ice rink, trail system, amphitheater, hotel, shopping and living spaces. Commuting or travelling? Easily access Tampa and Orlando via the Florida Turnpike, State Road 50 and US 27 (North-South) where attractions and employment opportunities abound. A short commute to Orlando and Tampa attractions. Like the beach? It’s less than two hours from either the Atlantic or Gulf coasts. See rocket launches from the Kennedy Space Center, cruise from Port Canaveral or Port of Tampa, fly from Orlando International or Tampa International Airport.
Source: STELLAR #g5084105
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #g5084105
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 30-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: #g5084105
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