5831 Bassett Ave, Orlando, FL 32833
4 beds · 3 baths · 2,886 sqft sqft
HUGE PRICE DROP! Pool home, on an acre, listed well under appraised value, in sought after Wedgefield? Look no further! Jump on this rare opportuity as it won't last long at this price! A wonderful place for your family to call home with an A-rated pre-k through 8th grade school, community park with baseball diamond, v-ball and basketball courts, dog parks, picnic areas, Hal Scot Preserve and of course the golf course and clubhouse! Conveniently located near the Orlando International Airport, beaches, NASA, Port Canaveral, and theme parks. The main home has PAID-OFF solar panels, double paned windows with resin-coated hurricane fabric protection, lightning protection system and a generator for your safety. Stay cool with high grade insulation within the concrete block walls and attic. Other upgrades include NEW water heater, NEW pool pump, NEW whole house water treatment, NEW AC motor, NEW hardwood flooring in common areas and NEW vinyl flooring in bedrooms. Great multi-generational opportunity as garage was converted in 2020 into a mother-in-law suite with full bathroom, private entrance and a 16x40 EZ Portable Building permitted ADU for living space which is anchored down to a cement slab, insulated, with it's own electrical panel, kitchenette and mini split AC/Heater. *Preferred Lender offering Appraisal Credit* *Garage can easily be converted back for parking usage and ADU can be moved to a new location as well* *Wedgefield water issue with Pluris does NOT pertain to this home as the cost of well water is minimal and paid annually to Ranger Drainage*
Source: STELLAR #o6212026
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #o6212026
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
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.
MLS ID: #o6212026
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.