VA loan
1 of 46
VA loan
$510,000

520 PINECREST LOOP, Davenport, FL 33837

5 beds · 3 baths · 3,140 sqft

Beat High Rates with Low Monthly Expenses! Reduced $50,000! The extremely low electric bill ($33 due to solar) and HOA ($45) will make up for the higher interest rates! Potentially saving you $600-900 per month! Lowest priced pool home of its size and age in the whole of Davenport! Step into this expansive 5-bedroom, 3-bathroom pool home, brimming with incredible upgrades like whole-house solar and water filtration! Meticulously maintained by its original owner, this home feels like new and offers an array of exceptional features. You'll be captivated by the sparkling pool and the spacious, oversized secondary bedrooms. The open floor plan creates a welcoming atmosphere, ideal for both everyday living and entertaining. The front of the home boasts a charming dining room, while the back reveals a beautifully designed kitchen, casual dining area, and living room. The kitchen is a chef's dream, complete with a walk-in pantry, cooking island, abundant counter space, and stainless steel appliances. Granite countertops grace both the kitchen and all bathrooms, adding a touch of luxury throughout. Sliding doors lead from the kitchen to the pool deck, perfect for seamless indoor-outdoor living. Stepping outside you’ll love sunny mornings on the patio with a coffee and there’s plenty of space for backyard barbecues. You'll also appreciate the vibrant landscaping that enhances the curb appeal with lovely colorful flowers. Inside, ceramic tile floors adorn the foyer, hallway, bathrooms, and kitchen, ensuring durability and easy maintenance. For those who find stairs challenging, there's a full bedroom and bathroom with a walk-in closet conveniently located on the ground floor and nicely tucked away for added privacy. The remaining four bedrooms and two bathrooms are situated upstairs, providing ample space for everyone. The primary suite is a true retreat, featuring a huge walk-in closet and large bathroom with double sinks, a shower, and private commode. An enormous bonus room upstairs offers versatile space for a game room, office, or additional living area. This home comes with significant upgrades, including 33 on-roof solar panels valued at $33,000, which result in an astonishingly low electric bill of just $33 during Florida's hot summer months! The whole-house water filtration system, worth $1,200, ensures clean and pure water throughout. The pool, an investment of $42,000, promises endless enjoyment and relaxation. Additionally, the home is equipped with front and rear gutters, a built-in pest system and a termite bond for added peace of mind. Located in a quiet Davenport community with a playground, this home benefits from a low annual HOA fee and is centrally situated close to I-4. You'll find yourself just 5 minutes away from Posner Village, which offers a luxury Cinépolis movie theater, a variety of department, pet, makeup, clothing, and electronics stores, as well as a abundance of restaurants. Enjoy the best of Florida living with convenient access to major attractions: less than 30 minutes to Magic Kingdom and under 40 minutes to SeaWorld and Universal Studios. This is a neighborhood where short-term renting is not permitted, fostering a strong sense of community where you can truly get to know your neighbors. Sellers able to accommodate a quick closing. Don't miss this opportunity to own a stunning home with exceptional upgrades in an unbeatable location!

Interest rate 3
3.25%
With Roam
6.5%
The seller’s mortgage rate at the time the loan was originated.
Monthly payment 3
$1,265
With Roam
$1,763
Reduce your monthly payments by $498 when you assume this mortgage.
You also save $152,925 in total interest paid.

$246,393
Edit

You may be able to put down less than the total down payment amount of $246,393 and have the rest of the funds financed with a 2nd mortgage from a lender. 4

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.

VA loan
Eligible for investors
Not a veteran? You may still be qualified to assume the mortgage.

Location

Details

Home
Size
3,140 sqft
Lot size
0.14 acres
Year built
2020
Type
Single Family Residence
Loan
Remaining term
25 years, 7 months
Rate
3.25%
Monthly P&I
$1,265
Remaining loan balance
$263,606

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.

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Last updated: Sep 19, 2024 10:00 am
Listing agent: Irena Aistrop (321) 443-7535
Listing provided courtesy of: LA ROSA REALTY LLC (321) 939-3748
Details provided by STELLAR and may not match the public record.
MLS ID: #s5106142
Listings courtesy of Stellar MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided for consumers? personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright © 2024 MLS GRID. All Rights Reserved.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 45 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$1,265/mo
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