601 GIBSON ST, Leesburg, FL 34748
One or more photo(s) has been virtually staged. Seller may consider buyer concessions if made in an offer ~ Want to be near the water, but not on the water? This Leesburg home is .2 miles from LAKE GRIFFIN with Boat Parking in your driveway! NO HOA and the HERLONG PARK public BOAT RAMP is only 1.4 miles away!! Enjoy Fishing from the pier at Herlong Park or from your own watercraft, as you launch into Lake Griffin and the HARRIS CHAIN OF LAKES, a jewel of Lake County. The home backs up to over 71 acres of county owned woodlands, that include BOURLAY HISTORIC NATURE PARK. Price Improvement!! 4 POINT INSPECTION just completed! NEW HVAC Installed 7/16/24 with 10 YEAR WARRANTY! POOL HOME with a BRAND NEW WATER HEATER (2024), NEWER ROOF (2018), UPDATED WINDOWS (2019), WOOD FLOORS, GAS STOVE, WHOLE HOUSE VACUUM SYSTEM and NO HOA all on over HALF AN ACRE! Welcome to Gibson Street and this 3-bedroom, 2-bath home offering endless curb appeal with a large lot full of beautiful mature trees, brick exterior and covered front porch. The character and charm continue inside with wood floors throughout, crown molding, decorative woodwork and there is even a WOOD BURNING FIREPLACE (gas hookup available!) in the dining room off the kitchen. You have your choice of a large living room with easy access to the kitchen for a more formal setting or a family room behind French doors for a casual gathering space. The large kitchen will delight any home chef featuring quality appliances (including a GAS STOVE!), rich solid wood cabinetry, plenty of countertop space - ISLAND and BREAKFAST BAR - and a cheery window over the sink to let the natural light pour in. French doors off a traditional dining space access your patio and pool where you can relax poolside in the gazebo outfitted with electric or cookout with family and friends - there is an outside gas line ready for you to hook up your barbeque! The three bedrooms include a spacious PRIMARY SUITE offering the owner a private en-suite bath with direct access to the pool. Bedrooms two and three share a second full updated bath. In addition to the storage shed in the backyard the garage also has workshop space and all of the pool equipment stays - NEW POOL PUMP and NEW POOL VACUUM! Bring your boat or RV and enjoy the privacy of no rear neighbors. You are conveniently located near shopping, dining, parks, lakes and you can be at the Orlando International Airport in less than an hour. Call today to schedule your tour and leave the hustle and bustle of Orlando behind and discover all that Leesburg and the Harris Chain of Lakes has to offer! Chicken Coop will stay if buyer would like it to, otherwise it will be removed before closing.
You may be able to put down less than the total down payment amount of $178,430 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: #o6209529