4070 Stoney Point Rd, Melbourne, FL 32940
3 beds · 3 baths · sqft
Lower Price and Motivated Seller, stunning St. Andrews Isles home with over 100k updates in 2019 and 50k in 2022. This home has a VA qualified 2.25 assumable loan. St. Andrews Isles is a gated community within Suntree and this beautiful 3 bedroom,3 bath is spacious inside and out; Custom Kitchen with 5 burner gas stove, Sharp microwave drawer, omega custom wood cabinetry, custom lighting, upgraded appliances, wine fridge, in cabinet electrical outlets, 4 door French door refrigerator, touch technology kitchen faucet and a breakfast nook that overlooks the pool area and the lake. There is a large formal dining area with a double tray ceiling. Master bedroom opens onto the Lanai with three beautiful French doors, with remote controlled shades .Master bath has tiled shower, built in inlay and a soaker tub. The custom cabinetry extends into the bathroom to include the cabinet inset electrical outlets. Second bedroom has a large picture window that over looks the lake, third bedroom. Remodeled guest bathroom with zero entry/fixed frame, tiled up to ceiling, river rock floor, niches and a seat in the shower. Wainscoting in both guest bathrooms. Cozy and spacious Great Room with a fireplace decorated with rare coquina stone and built in bench seating with storage. The outside living area is as beautiful and spacious as the inside. Largest Lanai in St. Andrews Isle with 700 sq. feet of outdoor space; outdoor speaker system, wall mounted television and hookups, recessed lighting, ceiling fans and a large pool, north facing Lanai for picture perfect view of all the satellite launches; tons of room for that wonderful outdoor Florida living. Large laundry room with built in cabinetry and fold away ironing board. Oversized garage with dedicated workshop/cabinets and pegboard system. Garage refrigerator and a sink for easy clean ups. Well maintained home with many upgrades and close to everything; I-95, US 1, 15 minutes to the beach, great shopping and not to mention the most desirable school district in Brevard County.
Source: BREVARDMLS #1024993
Source: BREVARDMLS #1024993
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #1024993