5825 DAVON ST, Jacksonville, FL 32244
**Seller to pay up to $8,000 towards buyer closing costs or rate buy down with acceptable offer.** Welcome to this Craftsman-style smart home nestled in an established tree lined neighborhood with a quick commute to NAS Jax military base, downtown or wherever you need to be. Built in 2019, this modern abode seamlessly blends classic charm with contemporary convenience. Step inside to discover an inviting open floor plan, where the heart of the home, the kitchen, overlooks the dining and living areas. Perfect for entertaining guests or keeping an eye on loved ones. Adorned with wood cabinets and featuring a convenient breakfast bar, the kitchen is both functional and stylish, providing ample space for culinary adventures. The home boasts wood-look vinyl plank flooring throughout, offering the warmth and aesthetic appeal of wood with the added benefit of easy care and maintenance. You'll find plush carpeting in some of the bedrooms, providing a cozy retreat for rest and relaxation after a long day. Enjoy the perks of well water and septic, ensuring low utility bills and environmental sustainability. A water softener has been added to preserve your appliances, and for softer water for your skin and hair. The home has been equipped with a programmable thermostat, security system with cameras, a ring doorbell, and wifi enabled lighting. Outside, revel in the tranquility of the surrounding community, where neighbors have become like family, and the absence of HOA fees means you have the freedom to personalize your space without restrictions. Schedule your viewing today and start envisioning the possibilities!
You may be able to put down less than the total down payment amount of $146,484 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: #2028376
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