39 Wentwood Dr, Debary, FL 32713
3 beds · 2 baths · 1,631 sqft
Under contract-accepting backup offers. Assumable 2.9 VA Rate- Located in the highly sought-after Reserve at DeBary, this beautifully designed 3-bedroom, 2-bathroom home offers a rare opportunity, as homes in this community rarely come on the market. Featuring an open floor concept with 11ft ceilings, the split floor plan provides privacy with tile flooring in most of the home, except for two bedrooms. The spacious living room, is bright and inviting, highlighted by a 8-foot triple sliding glass door that floods the space with natural light and opens to a large screened covered back patio with high ceilings and tile flooring, perfect for outdoor relaxation or entertaining. The primary suite, approximately 12x18, features its own sliding glass door, allowing even more natural light and private access to the backyard, creating a peaceful retreat. With two dining areas, this home provides flexibility for both casual and formal gatherings. The fully fenced backyard ensures privacy with no rear neighbors, offering a quiet setting. Ideally situated just minutes from I-4, this home offers an easy commute and convenient access to bike trails, Gemini Springs, and the St. Johns River. It’s also close to the new and upcoming Downtown DeBary, the SunRail station, and a Publix coming soon. Plus, it’s just 40 minutes from the beaches and Disney World, making it the perfect blend of tranquility and accessibility.
Source: STELLAR #V4941358
Source: STELLAR #V4941358
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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 “Save search” 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 620, 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.