5545 HEATHERTON RD, Milton, FL 32570
Welcome to your dream home in the prestigious gated community of Cottonwood! This exquisite 5-bedroom, 3-bath residence is perfectly situated on a half-acre lot, offering ample space for your family to thrive. Step inside to discover a neutral color palette that enhances the home’s bright and airy feel. The spacious great room features a stunning trey ceiling and a cozy wood-burning fireplace, seamlessly flowing into the breakfast nook and kitchen. Here, you'll find a center island, sleek granite counters, a walk-in pantry, and top-of-the-line stainless steel appliances, making it a chef's delight. The versatile large office space can serve as a playroom or additional living area, catering to your family's needs. This home is designed with a double split bedroom floor plan, providing privacy and convenience. The primary suite is a true retreat, boasting a generous bedroom with a trey ceiling and direct access to the covered patio. The luxurious primary bath includes double vanities with granite counters, a relaxing garden tub, a separate tiled walk-in shower, a spacious walk-in closet, and a private water closet. Additional bedrooms are generously sized and feature large closets, ensuring everyone has their own space. The two additional full baths are well-appointed with single vanities, granite counters, and tub/shower combos. The privacy-fenced backyard is a haven for outdoor living, featuring a large covered patio and a vast yard with ample room for a pool. Don’t miss the chance to make this beautiful property your forever home!
You may be able to put down less than the total down payment amount of $250,787 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: #652604