5950 Edison St, Cocoa, FL 32927
4 beds · 2 baths · 1,400 sqft
The seller is paying a $5,000.00 concession to the buyers at closing. Are you looking for a property with privacy and space to grow? Then welcome to this charming 4-bedroom, 2-bathroom block home, located in a quiet cul-de-sac on over 1/4 acre of land with no rear or side neighbors, offering ultimate privacy and plenty of space to add a pool, extra bedrooms, and much more. The property is ideally located just 1 mile from I-95 and under 5 minutes to SR-528, providing quick access to east coast beaches, Cape Canaveral, and the world-famous Orlando theme parks, all within a 10-15 minute drive. Orlando International Airport is less than 30 minutes away. With 1,400 sq. ft. of living space, the home offers ample room to spread out. Recent updates include a roof (2021), AC (2021), and water heater (2018). The screened lanai with tile flooring is perfect for outdoor relaxation, and a brand-new lanai slider provides easy access. Additional storage is available with two sheds on the property. While the home needs some cosmetic updates, such as new kitchen cabinets, countertops, modern appliances, flooring, updated bathrooms, and fresh paint, it presents a fantastic opportunity to increase value and create your dream home. The estimated ARV is between $330k-$350k, depending on the finishes. The property offers instant equity and can be moved into as-is or customized to suit your style. With no HOA fees or flood zone concerns, it’s a worry-free investment with low maintenance costs. Don’t miss out; bring your toys with ample parking available—and lock in this fantastic property today and make it your private sanctuary! Investors, this is an excellent opportunity to add equity to your portfolio.
Source: STELLAR #tb8322011
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #tb8322011
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: #tb8322011
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.