2633 GRAND CENTRAL AVE, Tavares, FL 32778
How would you like LOW Interest Rate? This home gives you to potential to Assume the current owner's mortgage! Also, No need to worry about any major expenses with this nearly NEW home ready for you! The heart of this home is its open-concept layout, featuring a spacious kitchen with large walkin pantry central to a warm and inviting great room and dining area, leading to a covered lanai which is perfect for outdoor entertainment, your morning cup of coffee or a quiet evening with a glass of ice cold lemonade. Oversized aluminum fenced yard offers endless possibilities for outdoor entertainment! This is a true split bedroom plan with the spacious primary ensuite located in the back of the home that features a large glass enclosed shower, double sinks and a generous walk in closet. The additional two bedrooms located on the opposite side of the home offers space and privacy for all whether you work from home, have family at home or enjoy having guests come to visit. The secondary bathroom is conveniently loacated in the secondary bedroom corridor. No need to worry if your guests arrive while you are doing laundry because it is located in a dedicated space. The 2-car garage has great space not only for vehicles but storage as well. Conveniently located to shops, restaurants and major highways makes this a perfect place to call HOME!
You may be able to put down less than the total down payment amount of $64,792 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: #o6210234