306 N MILLS AVE, Arcadia, FL 34266
Seller agrees to buy down the buyers rate with a 1-0 rate reduction for the first year. This helps with having a lower interest and payment. With this and the price reduction, buyers will have a more appealing payment. come see this property. It's a Charming Home in Arcadia – Priced to Sell! This home and area give you the small town feeling which is getting harder to find in Florida. Features include: Close to Schools & most Amenities: Enjoy the convenience of being near local schools, shops, restaurants, events and community facilities. This two bedroom, two bathroom home can easily be a three bedroom home if you convert the den to another bedroom. Enjoy the large living room when relaxing or entertaining. Eco-Friendly Upgrades: Equipped with solar panels to help you save on energy costs. Modern Comforts: Includes a water softener system for improved water quality. Storm Ready: Hurricane impact windows for peace of mind during hurricane season. Parking: Two-car carport providing ample parking space with another entrance. Competitively priced to sell quickly! Needs some minor Cosmetic Work – perfect for those looking to add personal touches and do it your way. This charming home in the heart of Arcadia offers the perfect blend of convenience, eco-friendly features, and potential for customization. Situated close to schools and most amenities, it provides easy access to daily necessities. The addition of solar panels and a water softener system enhances both the environmental footprint and the comfort of the home. Safety and security are prioritized with hurricane impact windows, and the two-car carport ensures plenty of parking space. While the home does need your personal touch, this presents a fantastic opportunity for buyers to infuse their style and truly make it their own. There are plenty of local activities nearby including camping, hunting, boating, fishing, golf, horseback riding, etc. Investors welcome! Add this house to your portfolio. Don't miss out on this gem – it's priced to sell and waiting for you to call it home! Schedule your showing now!
You may be able to put down less than the total down payment amount of $109,970 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: #a4611146