Limited time: Pay only $1,000 to assume a low rate mortgage when you sign a purchase contract between 12/11/24 and 1/10/25 *
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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.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.

VA loan
Eligible for investors
Not a veteran? You may still be qualified to assume the mortgage.
Location
Use two fingers to move the map
Details
Home
Lot size
0.24 acres
Year built
1999
Type
Single Family Residence

Source: BREVARDMLS #1024993

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?

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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?

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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?

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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?

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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?

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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.

View all FAQs
Last updated: Oct 21, 2024 09:00 am
Listing agent: Marlena Wassel (321) 298-6031
Listing provided courtesy of: Real Estate Solutions Brevard (321) 610-1550
Details provided by BREVARDMLS and may not match the public record.
MLS ID: #1024993
The data relating to real estate for sale on this website comes in part from the Internet Data exchange program of Brevard MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2025 Brevard MLS. All Rights Reserved.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 30 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.