520 PINECREST LOOP, Davenport, FL 33837
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!
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
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: #s5106142