407 ALABAMA AVE, Saint Cloud, FL 34769
Welcome to 407 Alabama Avenue! Come on in and explore this charming home, perfect for families of all ages! Step inside and be greeted by a breath of fresh air with the wonderful open floor plan, seamlessly flowing from the recently renovated kitchen to the spacious family room at the back of the home. The kitchen boasts new countertops, brand-new cabinets, and modern appliances, creating the perfect space to prepare and enjoy home-cooked meals. The inviting living area is ideal for relaxing with family and friends. This home features 4 bedrooms and 2 bathrooms, including a generously sized master suite with a private en-suite bathroom. All bedrooms are carpeted and offer ample closet space and natural light, providing a comfortable retreat for everyone. Floors throughout all the main areas (living room, kitchen and dining area) of the home have been recently renovated (2021), along with a brand new A/C (2021) and a brand new roof (2023). Step outside to discover your own private oasis. The backyard is beautifully landscaped with a fruitful mango tree as well as an avocado tree and features a covered and paved patio, perfect for outdoor dining and relaxation. The fenced yard provides a safe space for children and pets to play. Enjoy the convenience and scenic view of the lake, just a short walk from the home, along with all that the St. Cloud lakefront has to offer. Explore the infamous and historic downtown area of St. Cloud, filled with charm and character only a mere minutes away. With easy access to major highways, commuting to Orlando and surrounding areas is a breeze. Don't miss the opportunity to make this wonderful property your new home. Schedule a showing today and experience all that 407 Alabama Avenue has to offer!
You may be able to put down less than the total down payment amount of $116,728 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: #o6229898