5012 E FOUNTAINWOOD DR, Saint Cloud, FL 34772
This amazing 3-bedroom, 2-bathroom home in the Twin Lakes community of St. Cloud, a 55-plus community, offers a blend of modern design and comfortable living. Nestled within beautifully manicured landscaping filled with colorful flowers, this residence greets you with tall ceilings and upgraded vinyl flooring in the wet areas. Loan can be assumable at a low interest rate. The open floor plan seamlessly connects the chef's kitchen, breakfast nook, and living room. The kitchen boasts ample cabinetry, a butler's pantry, a double oven, stainless steel appliances, pendant lights, and a large kitchen island with granite countertops. A pantry closet offers additional storage, and a cozy breakfast nook is perfect for morning meals. The living room is filled with natural light from four large sliding doors that open completely to an extended paver patio, which features a pergola and a wrought iron fence surrounded by bushes for privacy. The master suite is situated at the back of the home, providing a peaceful retreat with a view of the garden. It includes a spacious master bathroom with an oversized shower, a double sink vanity with granite countertops, and a large walk-in closet that conveniently connects to the laundry room. The two additional bedrooms are located at the front of the home, sharing a full bath, making them ideal for guests or a home office. Residents of the Twin Lakes community enjoy access to a state-of-the-art clubhouse, pools, grilling areas, a dock with a pontoon boat, an amazing fitness center, and numerous activities that keep everyone engaged and entertained. This home, which looks like new, offers great value in a vibrant and active community.
You may be able to put down less than the total down payment amount of $162,727 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: #s5110219