4520 Decatur Cir, Melbourne, FL 32934
4 beds · 2 baths · sqft
Beautifully maintained and updated LAKEFRONT Melbourne 4 BR, 2 Bath home. One-story convenience paired with exceptional upgrades makes this one an easy choice. Assumable 2.75% VA mortgage for VA qualified Buyers. Would need approximately 50% down to assume. 2021 Roof, 2017 HVAC, 2017 flooring plus newer high-end appliances including 1 year old Bosch dishwasher. Versatile split bedroom floorplan for maximum privacy. Inside utility room and plenty of storage! Enjoy serene sunsets from your screened back porch overlooking the lake. Concrete block construction, hurricane shutters, private 2 car garage and a sidewalk safe community for peace of mind. Exceptional Space Coast location with easy access to I-95, the beaches, golf, shopping, the Intracoastal Waterway, Lake Washington and the charming Eau Gallie Arts District. Low HOA fees of only $270/year. An amazing lifestyle that blends sun-soaked relaxation with a vibrant coastal community.
Source: BREVARDMLS #1029782
Interest rate and monthly payment estimated based on public records.
Source: BREVARDMLS #1029782
Source: Public records
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: #1029782
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.