418 S MINSTREL AVE, Inverness, FL 34450
This delightful single-family home, nestled on over 1.5 acres of land, offers an expansive living space of over 2,000 square feet, ensuring that comfort and roominess go hand in hand. Built in 2002, the home features three spacious bedrooms, plus an office, and two well-appointed bathrooms, all on a single floor, making it ideal for both relaxation and convenience. NEW ROOF 2024, HVAC 2019 As you step inside, you are greeted by a sense of openness. The living room creates a welcoming atmosphere that’s perfect for entertaining or quiet evenings. Adjacent to the living area, the kitchen provides both functionality and style. Outfitted with BRAND NEW STAINLESS STEEL APPLIANCES including an oven, a large chef's dream gas stove, refrigerator, and dishwasher, it’s a space designed for culinary creativity. The nearby dining room ensures that every meal can be enjoyed in a comfortable, designated area. The master bedroom offers a tranquil retreat, complete with a walk-in closet for all your storage needs. The en-suite bathroom enhances this space, ensuring privacy and convenience. The two additional bedrooms boast their own built-in closets and share the second bathroom, which continues the theme of comfort and style throughout the home. Laundry chores are made easier with a dedicated laundry room inside the home, bringing additional convenience to everyday living. Stepping outside, the property is surrounded by natural beauty on its 1.53-acre lot. The extensive outdoor space offers endless possibilities for customization, from creating a garden oasis to designing a personalized outdoor living area. The property includes a two-car attached garage and a STORAGE SHED, providing ample space for parking and additional storage. The property has over 150 feet of canal frontage which leads out to Princess Lake to the South and Lake Rousseau to the North, making it ideal for those who enjoy nearby outdoor activities. The home offers a peaceful retreat from the hustle and bustle, with a solid foundation and great potential for creating your dream outdoor space. This home truly embodies comfort and space, with all the necessary modern amenities for a comfortable lifestyle. Whether you're looking for a serene place to unwind or a spacious home to entertain, this property offers the perfect canvas for your future.
You may be able to put down less than the total down payment amount of $205,255 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: #w7867811
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.