5557 OAKWORTH PL, Sanford, FL 32773
Discover the enchantment of the beautiful gated community of Heatherwood. Sellers will add NEW ROOF before closing!! This home features a versatile triple split floor plan, the home offers four generously sized bedrooms, two well-appointed baths, and a fluid, open-concept design. The soaring vaulted ceilings, tasteful neutral palette, and graceful arched walkways enhance the home's airy ambiance. An elegant open dining area segues into a large kitchen and inviting living space. The kitchen features sleek stainless steel appliances, ambient recessed lighting, casual bar-top seating, ample pantry storage, and durable tile flooring. The living area, crowned with lofty ceilings, offers picturesque views and seamless access to the outdoor patio. Retreat to the luxurious master suite, with vaulted ceilings, a spacious walk-in closet, his-and-hers vanities, a sumptuous garden spa tub, a large glass-enclosed shower, privacy frosted windows, and a secluded lavatory. An internal laundry room with a standalone sink and abundant storage options underscore the thoughtful design of this beautiful home. The exterior impresses with a meticulously laid paver driveway, a three-car garage, and a panorama of mature landscaping, complete with a variety of fruit and palm trees. The expansive, screened lanai and a fully enclosed yard provide a private oasis. Experience this breathtaking four-bedroom home in Sanford by scheduling your personal tour today. **This home has the added benefit of an assumable mortgage for qualified buyers. The existing mortgage has a notably low interest rate and a substantial mortgage balance offering a remarkable opportunity for savings. Making this home not just a great place to live, but a significant value and saving for a prospective homeowner.
You may be able to put down less than the total down payment amount of $128,850 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: #o6208310
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.