5147 Elwood Rd, Spring Hill, FL 34608
6 beds · 5 baths · 3,903 sqft
Welcome to 5147 Elwood, a stunning custom-built home completed in 2014, featuring ceramic tile in all wet areas and plush carpeting in the main living spaces, with crown molding on the first floor. This exquisite property offers 6 bedrooms and 4.5 bathrooms, creating 4 separate ensuites, and includes a spacious 3-car garage. With a generous 3,903 square feet of living space, the home boasts a formal dining area, living room, and loft. Enter through the front door into a tiled foyer with high ceilings, a chandelier, a large window with a built-in shelf, and carpeted stairs with beautiful railing leading to the second floor. To the left of the entry, you'll find a living room/dining room combo perfect for formal occasions. The chef's kitchen includes a breakfast nook with sliding glass doors to a screened lanai, granite countertops, wooden cabinets with nickel pulls, a center island with plumbing ready for a second sink, and GE Appliances: a newer stainless steel refrigerator, wall-mounted double oven, glass cooktop, newer microwave, dishwasher, and a 50/50 stainless steel sink with disposal and views of the rear yard. The family room, measuring 18x21, provides ample space for relaxation, and steps away is the first-floor bedroom featuring a remote-controlled ceiling fan, large walk-in closet, and ensuite with a fully tiled walk-in shower, glass shower doors, a recessed medicine cabinet, and a single-sink wooden vanity with granite countertops. The indoor laundry closet across from the kitchen pantry offers additional vented wire shelving for storage. Guests on the first floor can utilize the half bathroom located in the hallway between the family room and dining room. Head up the stairs to find the loft, perfect for a game room or second-floor living space, with the potential to be a seventh bedroom, featuring two closets. The hallway nearest the loft provides access to guest bedrooms two and three, each fitted with an ensuite. Bedroom two offers dual closets, a ceiling fan, and an ensuite with a tub/shower combo, fully tiled shower walls, glass shower doors, a wooden single-sink vanity with granite counters, tile flooring, and additional access to the hallway. Bedroom three also has a ceiling fan, dual closets, and an ensuite with a single sink vanity, granite counters, a walk-in shower with tiled walls, and glass shower doors. Further down the hallway, you'll find bedroom four with a standard closet and remote-controlled ceiling fan. Proceeding down the hallway on the right, there are two closets housing A/C systems for easy maintenance. Just past the A/C closets on the right is bedroom five with a standard closet and ceiling fan, while the sixth bedroom, the master suite, is located at the end of the hallway. The master suite is expansive, featuring a trey ceiling, linen closet, two walk-in closets, and an ensuite with split vanities, each with an under-mount sink, a garden tub, commode closet, and tiled walk-in shower with glass shower doors. The home also boasts a custom stone facade, a fully fenced yard with an irrigation system, fully screened lanai, gutters with lifetime warrantied gutter leaf guards, two A/C systems (A/C #1 is 10 years old and A/C #2 is 4 years old), and ample storage with 15 closets throughout the residence. Located in the heart of Spring Hill, this home perfectly blends luxury and functionality.
Source: STELLAR #TB8350298
Financials
Source: STELLAR #TB8350298
Source: Public records
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%. 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.
Other resourcesWhat 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.
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