5610 King James Ave, Leesburg, FL 34748
2 beds · 2 baths · 1,606 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Gated Community Charming home, Customized Topaz model has 2 bedrooms, 2 baths and a media room. Open floor plan, Living/Dining room combo with Ceramic Tile and separate Media/Family room with wood laminate flooring. Bright & Airy Master suite with wood laminate & large walk in closet. Master bath with dual sinks, instant hot water, large step in shower private commode room, commode with bidet. Kitchen overlooks living/dining areas with Range, Refrigerator, & Dishwasher, Tile topped Center Island and double sliding door Pantry. Guest Wing has pocket door entry 2 carpeted bedrooms separated by Bathroom with ceramic tile floor, shower/tub & commode with bidet. Inside Laundry includes Washer, Dryer, Utility Tub, Ample Cabinets & Shelving. 2 Car Garage has ample Shelving & Sliding Screen Doors. Paver Patio with electronic Awning. Home is also equipped with Lightning Rods, Digital Thermostat & Faux Wood Blinds throughout. Royal Highlands is a gated 55+ community offering a plethora of amenities. Monarch is an 18 hole Golf Course that winds throughout the community with a backdrop of Natural Florida Beauty. There is a Pro Shop, Restaurant, 2 Community Centers that offer an Indoor & outdoor pool, Billiards room, Library, Fitness Center, Live Theatre, Tennis, Basketball courts, meeting rooms & kitchens. The retirement Lifestyle for which you’ve been waiting is all here. Very Easy to show. Schedule your private showing.
Source: STELLAR #o6235330
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: STELLAR #o6235330
To qualify, you must meet the current FHA or VA 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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.
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 “Save search” 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.
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 620, 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 and Equal Opportunity Act.