5851 Edouard St, Oviedo, FL 32765
3 beds · 2 baths · 1,586 sqft
Discover Oviedo: Where Top-Rated Schools and Exceptional Quality of Life Await! Don’t miss out on this beautifully renovated 3-bedroom, 2-bathroom block home situated on an oversized lot with no HOA! This property has been meticulously updated, ensuring a comfortable and carefree living experience. The functional split floor plan features an open living space and a spacious Florida room under air, providing versatility whether you work from home or love entertaining. The seller has spared no expense on updates, including new double-pane windows, a new water heater, a new well pump, completely updated bathrooms, new flooring throughout, fresh paint inside and out, new doors, new kitchen cabinets, granite countertops, and brand-new stainless steel appliances for an exceptional cooking experience. And the list goes on! Located in a boutique community with only a handful of homes, you are just 20 minutes from Downtown Orlando, 10 minutes from the University of Central Florida, and a few miles from shopping, dining, parks, and easy access to SR 417. Don’t miss this rare move-in-ready home—schedule your private tour today!
Source: STELLAR #O6263928
Financials
Source: Public records
Source: STELLAR #O6263928
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.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.