5095 China Sea Dr, Tavares, FL 32778
3 beds · 2 baths · 1,837 sqft
Now offered is 5095 China Sea Dr in the highly sought after 55+ gated community of Royal Harbor located in Tavares, FL. If you have not visited this community, it is a must! Known for its wonderful amenities and the active 55+ lifestyle you have been looking for but with low HOA fees and no CDD. 5095 China Sea Dr. sits in an amazing location with one of the more sizeable lots available. Built in 2002 this home has been well cared for by the same owner for the past 20+ years. The home features 1837 heated and cooled square feet with 3 bedrooms, 2 bathrooms and a 2-car garage. Also, the home is equipped with a whole house generator and the A/C has been upgraded with the Halo-Remi system for peace of mind. The kitchen offers lots of storage, a newer refrigerator, gas cooktop and lots of counter space for meal prep and entertaining. You have the option to have both a breakfast nook and a dining table if you wish or use the dining room as an additional seating area. The high ceilings throughout the home accentuate the openness of the home and there are lots of windows to allow natural light to enter. While most of the home does have carpet, there are in fact tile floors under the carpet in the breakfast nook and a small space going into the living room. The current owners preferred carpet, but it can easily be removed so you can enjoy the tile. The primary bedroom features high ceilings, large closets perfect for storage and an ensuite bathroom. The queen-sized murphy bed in the 3rd bedroom stays if you'd like as it has hardly been used. Some additional updates over the years include New Roof 2019, New water heater 2019 and additional square footage with the central heat and air added to the Florida room. Royal Harbor sits along the shores of Little Lake Harris; just one of seven lakes that make up The Harris Chain of Lakes. Boat and RV storage is included in the HOA fees, first come first served. The clubhouse features a large social hall, catering kitchen, stage, dance floor, arts and crafts room, billiards room, library, computer room, Fitness Center, and more. Outdoor amenities include a screened Junior-Olympic sized heated pool and spa, tennis, pickleball, bocce, shuffleboard, and horseshoes. A picnic pavilion at the lake and the Lighthouse are great places to gather with friends. Hickory Point Recreation Facility is just across Hwy 19 and features several boat launch slips. Do not wait to tour this home! All information recorded in the MLS is intended to be accurate however, it should be independently verified by buyer and their agent. Check out the Virtual tour link!
Source: STELLAR #G5092547
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Rates and payments are estimates based on public records.
Source: Public records
Source: STELLAR #G5092547
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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.
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 “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.
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 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.
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