266 Cornell Rd, Saint Augustine, FL 32086
3 beds · 2 baths · 2,334 sqft sqft
Spacious 3-bedroom, 2-bath home with a 1-bedroom, 1-bath guesthouse, situated in the desirable Saint Augustine South neighborhood! Plenty of parking available for your RV, boat, ATVs, and more—perfect for welcoming guests or in-laws. Located near the US 1 shopping corridor, this property is just a quick ride away from the beach and the historic downtown district. This sought-after neighborhood boasts two boat ramps, a park/ playground, and proximity to everything you need, with just a 10-minute drive to the beach The main house features an open-split floor plan with 3 bedrooms and 2 bathrooms, plus a bonus room/ Fl room. The guesthouse/ in-law suite is a 1 bedroom 1 bath, complete with kitchenette and washer/dryer. Extensive updates include a new split wall AC in the Florida room (2024), a new AC unit (2020), a new roof (2022), a new water heater (2023), and new ceiling fans (2024). The kitchen appliances, including the stove, dishwasher, and microwave, were all replaced in 2024. Both bathrooms were upgraded in 2023. The property also includes a charming studio guest house, built in March 2021, complete with its own bathroom and kitchenette. This modern space offers handicap access with a roll-in shower and a separate entry, perfect for guests or extended family. Additionally, the septic system's drain field was expanded in 2021 to accommodate the guest house. Enjoy the freedom of no HOA, along with ample boat and RV parking. The property also includes two sheds, measuring 10x20 and 8x10, as well as a newly constructed chicken coop. Don't miss out on this rare opportunity to own a versatile property with two residencesmove quickly!
Source: REALMLS #2033103
Interest rate and monthly payment estimated based on public records.
Source: REALMLS #2033103
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: #2033103
Data provided is deemed reliable but is not guaranteed. The data relating to real estate for sale on this website comes in part from the Northeast Florida Multiple Listing Service, Inc. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2024 Northeast Florida Multiple Listing Service, Inc. All Rights Reserved.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.