37224 Apiary Rd, Grand Island, FL 32735
4 beds · 3 baths · 3,195 sqft
Welcome to your dream equestrian retreat nestled in the picturesque Grand Island community of Lake County. This stunning 5-acre property offers a serene lifestyle, perfect for horse enthusiasts and nature lovers alike. The spacious 4-bedroom, 2 ½ bath home features a split plan, a modern kitchen, a cozy, expansive family room with a wood-burning fireplace, creating a warm and inviting atmosphere. The home is complemented by an enclosed pool area and a convenient 2-car garage. Surrounded by mature oak and magnolia trees, the property boasts a charming boardwalk that leads to well-appointed stables, a lush pasture, and a versatile workshop. The 1500 sq ft stable is equipped with 18' ceilings, fans, a concrete floor, and is fully matted, accommodating 8 stalls, including a designated washroom and tack room. Nearby, a small corral offers an ideal space for riding and training. The property is meticulously fenced, featuring two gated access points for enhanced security. An agriculture-grade fence, approved by the Bureau of Land Management, encloses the upper paddock area, ensuring safety for untrained horses. Additionally, a 950 sq ft metal building provides ample space for a workshop, storage, or other purposes. Unique to this property is a bomb shelter with 4-foot thick reinforced concrete walls, equipped with electricity, offering unparalleled safety and peace of mind. Situated a few miles north of Eustis, between Lake Eustis and Lake Yale, this property is ideally located for exploring the great outdoors. Enjoy nearby Trout Lake Nature Trails, public boat ramps, and parks, or venture to downtown Mount Dora for its charming antique shops and vibrant festivals. With Ocala, known as the "Horse Capital of the World," just an hour away, and convenient access to both the East and West Coast beaches, as well as Orlando attractions, this Central Florida gem offers the perfect balance of tranquility and adventure. Shopping, dining, and essential services are all within a comfortable 20-30 minute drive. Experience the ultimate equestrian lifestyle in this exceptional Grand Island property here in beautiful Lake County, Florida!!
Source: STELLAR #O6280776
Financials
Source: Public records
Source: STELLAR #O6280776
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.