390 PARK AVE, Orange City, FL 32763
CHECK THIS ONE OUT!! USDA Property...No down payment required! Come see this CHARMING block home located Orange City near the St. Johns River, local schools and Blue Springs State Park!! Split plan three bedroom/2 bath corner lot home with partial wooded lot and huge fenced large back yard with a paver courtyard and firepit! Seller has total pride of ownership! This home has a fully updated kitchen with beautiful cabinets, granite countertops, stainless steel appliances, and breakfast bar. Many upgrades to the home including new flooring and water softener system plus new roof installed in 2022 along with new solar system. Front entrance has a private enclosed porch to relax outdoors in the mornings & evenings. No HOA fees!! Bring your boat and park it on your property! Conveniently located with shopping, restaurant's & medical facilities close by with easy access to I-4, 417 & Sun Rail Train station. Solar panel system installed to cut down on utility bill with only a $98 monthly lease vs. the fluctuating high power bills during the summer and winter months. Definitely a must see to appreciate this GEM in Orange City which won't last long!!!
You may be able to put down less than the total down payment amount of $149,266 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: #o6223324