35 Misners Trl, Ormond Beach, FL 32174
3 beds · 3 baths · 1,066 sqft
Low Maintenance Living Townhouse in Ormond Beach – Assumable Loan with 3.5% Interest Rate. Welcome to low-maintenance living in this meticulously maintained 3-bedroom, 2.5-bathroom townhouse in the serene community of Villas on Misner's Branch, near shopping and dining along Granada Boulevard. With an assumable loan at a remarkable 3.5% interest rate, this home is as financially appealing as it is beautiful. Step inside to discover an inviting space filled with natural light and thoughtful updates. The formal dining area can be a versatile flex space—ideal for a cozy sitting area or a stylish bar. This space flows seamlessly into the living area, where vaulted ceilings create an airy, inviting atmosphere. The dining and living areas offers the perfect setting for entertaining or simply relaxing in style. The updated kitchen features stunning quartz countertops, ample cabinet storage, and an eat-in nook ideal for casual meals. A convenient half-bathroom on the main floor adds to the functionality of hosting guests. The primary suite, located on the main level, is a true retreat. It includes an ensuite bathroom, ample closet space, and sliders leading to the tranquil screened-in porch. Sip your morning coffee or unwind in the evenings on the porch while enjoying views of the lush nature preserve, all with no rear neighbors to disturb your peace. Upstairs, a spacious loft offers additional living or work-from-home flexibility, while two bedrooms and a full bathroom complete the second floor. This home is perfectly situated just 5 minutes from I-95 for easy commuting and 10 minutes from Ormond Beach, where you can enjoy leisurely sunrise strolls along the shore. This is an excellent opportunity to enjoy the ultimate Florida lifestyle in a quiet, convenient community.
Source: STELLAR #O6287530
Source: STELLAR #O6287530
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.