5510 Holden Rd, Cocoa, FL 32927
2 beds · 2 baths · 1,744 sqft
This charming and cozy home is full of warmth and character! Step into the spacious great room with its soaring vaulted ceiling and inviting bay window, creating the perfect space to relax or entertain. The guest room features a large closet and is conveniently located across from a full bath. Adjacent to the dining room, you'll find a delightful galley-style kitchen, complete with a solar tube for natural light, stunning honey oak cabinets, a generous pantry, and a matching barn door that leads to a cozy family room (flex space), which could easily be converted into a third bedroom. The practical layout continues with an indoor laundry area, featuring a convenient storage closet and direct access to the garage from the far side of the kitchen. The primary bedroom, located off the dining area, boasts a double closet and a stylish barn door that opens to a beautifully remodeled master bath, featuring a large walk-in tile and glass shower for a spa-like experience. Step outside through the family room and into the expansive backyardperfect for hosting family gatherings or relaxing with friends. The detached covered patio is an ideal space for a BBQ, while the firepit offers a cozy spot to unwind after a meal. A detached workshop provides ample storage or the potential to convert into a two-story efficiency for extra rental income. With low-maintenance vinyl siding and a durable metal roof, this home is not only charming but also practical. This property truly feels like home, offering a perfect blend of comfort, functionality, and potential
Source: BREVARDMLS #1039543
Financials
Source: BREVARDMLS #1039543
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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