412 Cherry St, South Daytona, FL 32119
3 beds · 2 baths · 1,323 sqft
WELCOME HOME!! This lovely 3/2 home with a BRAND NEW ROOF is located in a quiet cul de sac in a charming well established neighborhood close to local parks. With NO HOA and a CORNER LOT, this BLOCK home offers an open front room that leads to a quaint kitchen and spacious Florida room. BRAND NEW flooring and recently painted , this home offers lots of natural light and is both clean and move in ready! Kitchen boasts a breakfast bar perfect for stools as well as a closeted pantry for easy access to additional storage. The master bedroom is spacious and the master bath has perks including a comfort height toilet and double shower heads in a glass enclosed shower. Hall bath has a "beachy" vibe and the mirror is custom hand painted around the trim. Home also boasts low-e windows with easy to install hurricane covers, as well as storm and garage doors. Home is NOT in a flood zone and did not have any damage in recent storms. There's a well for irrigation system in front yard. The fenced backyard is perfect for entertaining and contains a shed for additional storage. Washer dryer hookup is located in the oversized garage with a utility sink for your convenience. Easy commute to both I-95 and I-4 make this home just minutes away from beaches, walking/biking trails, DAYTONA Raceway, amusement parks, Daytona Beach Racing and Card Club, hospitals, shopping and more! St. James park is literally a very short distance away with its splash pad, picnic area, tennis and racquetball courts make this home a gem! It's almost like living in an HOA with amenities without the cost. Come check out this hidden treasure before its gone!
Source: STELLAR #V4941073
Financials
Source: Public records
Source: STELLAR #V4941073
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.
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 “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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.