4718 Magnetite Loop, Mount Dora, FL 32757
3 beds · 2 baths · 1,555 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Welcome to 4718 Magnetite Loop, a stunning 3-bedroom, 2-bathroom home with a 2-car garage, nestled in the heart of Mount Dora’s most amenity-rich community—Stoneybrook Hills. Located in desirable Orange County, this master-planned community is guard-gated and full of amenities. Spanning over 1,540 square feet, this thoughtfully designed home features an open-concept floor plan with tall ceilings and abundant natural light. The kitchen features upgraded stainless steel appliances, gray cabinetry, quartz countertops, and a large center island perfect for entertaining. The kitchen flows seamlessly into the spacious living and dining areas, which open up to sliding glass doors and the oversized backyard. The primary suite is located at the rear of the home and features a large walk-in closet and an en-suite bathroom with a walk-in shower and dual vanities. At the front of the home, you’ll find two additional bedrooms and a full bathroom, ideal for guests or a growing family. The home also includes features, like: wood-look plank tile flooring, a large laundry room, and neutral tones throughout. Stoneybrook Hills offers resort-style amenities including a 24-hour manned security gate, fitness center, Olympic-size pool, splash pad, clubhouse, basketball and tennis courts, baseball fields, playgrounds, walking trails, and more—all for a low monthly HOA of just $178. Centrally located with quick access to US-441 and the 429 connector, you’re just minutes from historic downtown Mount Dora and a short drive to all that Orlando has to offer, including Disney, the airport and downtown Orlando. Don’t miss this incredible opportunity to own a move-in-ready home in one of Mount Dora’s most sought-after gated communities. Call today to schedule a private tour.
Source: STELLAR #O6293256
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: STELLAR #O6293256
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.
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.
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.
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.
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 “Save search” 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.
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 620, 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.