4416 SUMMERFIELD CT, Milton, FL 32571
This 4-bedroom, 2-bathroom family home is nestled in a quiet neighborhood in Pace, just off Hwy 90. With a generous .25-acre lot and a fully fenced backyard, this home offers the perfect blend of comfort and convenience. Inside you will discover a spacious living area with hardwood floors centered by a fireplace. Open to the living area and just off the kitchen is the roomy designated dining area that overlooks the lush backyard. The spacious kitchen is a chef's delight, featuring a timeless backsplash, modern appliances, and abundant cabinet space. A built-in lazy susan adds convenience for storing spices and baking supplies, and the oversized pantry, measuring 10'6" x 3', ensures you have plenty of room for all your culinary essentials. At the back of the house, the master bedroom that serves as a true retreat, featuring enough room for a king bed and a cozy sitting area. The master suite includes a large walk-in closet and an ensuite bathroom equipped with double vanities, one of which has a makeup vanity, a garden tub, and a stand-alone shower. The home also boasts three additional well-sized bedrooms, providing plenty of space for family and guests. Adding to the convenience of the home, an additional flex space is currently being used as a bedroom but can easily be transformed into the perfect office, den, or playroom, catering to your family's needs. The entire backyard is fenced, providing a safe and private space for children and pets to play. Enjoy the tranquility of a quiet neighborhood while being close to all the amenities you need. A rated schools, Target, Publix, Walmart, and more are just a short drive away, making shopping and errands a breeze.
You may be able to put down less than the total down payment amount of $21,481 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: #647317
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.