4813 WATERS GATE DR, Tavares, FL 32778
Welcome to this beautifully updated single-family residence, located near the end of a peaceful cul-de-sac in a desirable gated community. This 3-bedroom, 2-bath split floor plan home boasts an open floor plan, featuring a spacious living room with an eye-catching accent shiplap wall that adds character and charm. The home offers recent upgrades throughout, including new luxury vinyl plank flooring installed in all bedrooms and closets in June 2023, ensuring a modern and low-maintenance finish. The kitchen flows seamlessly into the living area, making it perfect for both everyday living and entertainment. Outside, the private vinyl-fenced backyard is a true retreat, complete with a hot tub, fire pit, and a screened-in patio for year-round outdoor enjoyment. For added convenience, you'll find a storage shed in the backyard, overhead garage storage, and a pull-down attic ladder for even more space. Recent updates include a new roof (July 2024), new hot water heater (August 2024), and new dishwasher (early 2024). Located in a family-friendly community with access to a community pool and park, this home offers both comfort and lifestyle. Just minutes from shopping, boat ramp leading to Harris Chain of Lakes, and amazing golf courses. Don’t miss your chance to own this beautifully maintained and thoughtfully updated home!
You may be able to put down less than the total down payment amount of $108,210 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: #g5087009