5372 Palomino Pl, Apopka, FL 32712
3 beds · 2 baths · 1,672 sqft
If you are looking for a low interest rate, you found it with the purchase of this home...assumable mortgage at 4.5, don't miss out!! Welcome to this stunning smart home, located in a highly sought-after community in the vibrant and growing area of Apopka! This modern home offers the latest in Smart Home technology, allowing you to easily control your porch light, front door lock, thermostat, doorbell camera, and more through the touch screen control hub or with your voice using the included Amazon Echo Dot. The open floor plan creates a spacious and inviting atmosphere. The chef-inspired island kitchen is perfect for entertaining, seamlessly flowing into the living and dining areas for easy socializing. Step outside to your private backyard oasis, featuring a covered lanai and a fully fenced-in yard, ideal for outdoor relaxation and gatherings. The home is equipped with gutters, providing extra protection against water damage, flooding, and erosion, ensuring the long-term durability of your investment. Conveniently located near SR 429 and SR 408, you'll have easy access to Sanford, Lake Mary, Mount Dora, and Eustis. Plus, with Orlando International Airport just 38 minutes away, travel couldn't be easier. Don't miss your chance to own this smart, stylish, and well-maintained home in a vibrant and growing community!
Source: STELLAR #O6275057
Financials
Source: STELLAR #O6275057
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.