507 N High St, Deland, FL 32720
3 beds · 2 baths · 1,428 sqft
Gem in old Deland! Come see your beautifully renovated historic home situated in a park-like setting. This beauty was updated in 2018, and offers the perfect blend of modern features and classic charm. The dream kitchen boasts wood cabinets, a large cooking island perfect for gatherings, quartz countertops, a glass mosaic backsplash, and stainless steel appliances. The spacious living area flows seamlessly into an intimate dining space, plus a versatile flex room. Enjoy wood flooring throughout the main areas and vinyl flooring in the bedrooms. Both bathrooms have been stylishly updated with new cabinetry, tile work, and contemporary lighting. Outdoor living is a breeze with a large wood deck and fenced backyard, perfect for entertaining. The property also includes a 12x23 detached workshop, ideal for projects or extra storage. Key updates include new electrical service, plumbing, fixtures, and AC system (all 2018), along with a natural gas water heater. There’s also plenty of space to park your RV or boat, with no HOA restrictions. This move-in-ready home is a rare find, offering a great location close to all the amenities of downtown DeLand and Stetson University!
Source: STELLAR #v4938571
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #v4938571
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 30-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: #v4938571
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.