602 SHOREWOOD DR # A206, Cape Canaveral, FL 32920
Embrace Florida living at its finest in this stunning upgraded 2104 sq.ft. condo located in the prime oceanfront community of Shorewood. This corner unit offers breathtaking unobstructed views of a lake, mesmerizing sights of cruise ships drifting by and rockets launching into the sky from your 2 oversized wrap-around balconies! Step inside to immersive living spaces complemented by a modern, updated kitchen laden with solid wood maple cabinets that maximizes the space with tons of storage to inspire your inner chef. Both bathrooms have undergone tasteful renovations enhancing the condo's appeal. Enjoy the luxury premium vinyl just installed in the primary and front bedroom for you to enjoy. 4 Stage Aquatic Life Reserve Osmosis/Deionized system in the laundry closet produces up to 50 gallons of filtered water a day. Store 2 vehicles and more within the secure confines of a spacious vented private underground garage that has overhead storage to maximize the space. Engage with an active lifestyle right in your backyard with gated beach access, a large heated community pool, spa, tennis courts, shuffleboard, gym facility with sauna, and a lively community clubhouse with a full kitchen and bathrooms. Participate in the bustling life and various weekly activities like game night offered for its residents. Bike friendly location allows you easy access to Port Canaveral and the Cocoa Beach pier. Minimum 30-day rental is rare and will allow you to share your piece of paradise with others if you choose when you are off exploring the world. Bring along your furry friends, as the community welcomes 2 pets under 35lbs. Community car wash is convenient to rinse off the salt before parking your car in your private garage. Location is key, a stroll away from Cape Canaveral's restaurants at the port, Jetty Park, the legendary Kennedy Space Center, and the exquisite Cocoa Beach. If travel is on the horizon, rest easy with Orlando International Airport less than a 45-minute drive away or step out you door and jump on a cruise for the weekend. Easy access to SR528 and I95 gets you where you need to go in no time at all. More pictures to come!
You may be able to put down less than the total down payment amount of $223,469 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: #1014722
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.