6118 Dora Dr, Mount Dora, FL 32757
6 beds · 6 baths · 7,496 sqft
~~Historical home with a $615k Assumable VA Loan at an even more historical low interest rate!~~ Motivated seller: This one-of-a-kind waterfront estate sits directly on Lake Beauclair in the heart of the famous Harris-Chain-of-Lakes, is priced well BELOW APPRAISAL value (Nov 2024 $1,770,000) and is minutes via boat, jet ski, bike, or car to downtown Mt Dora. The 7,500 sqft Mediterranean-style chateau has everything on your list: A backyard oasis, a dock, boat lift & boat, multiple balconies, unique architectural details, a PRIVATE 2BED/1BATH in-law/guest APARTMENT with separate entrance. Sunset views so beautiful that tourists pay for a sunset boat-tour past your dock ever night! This estate's elegant facade greets you at the end of a long private driveway with courtyards, patios and paver walkways throughout. Inside the front door, you’ll find vintage Saltillo tile floors, stucco walls, archways, custom millwork and pecky cypress trim, doors & ceilings. Views of the lake invite peace and reflection from almost every room! The living room is filled with natural light and offers a wet bar, a beautiful original brick fireplace & a separate library/den. Just steps away, you can dine & entertain on the huge paver patio surrounding the screened-in pool with sunset lake views. In fact, you can even watch the sunset over the lake while relaxing in the hot tub. Beyond the enclosure, there’s plenty of yard space for family activities, and you also have a boathouse, lift, and private dock on Lake Beauclair. The boat conveys as well! Back inside, the main kitchen features granite countertops, exposed timbers, walk-in pantry, stainless appliances, a massive island and a big bay window with sweeping lake views. The main level also includes a parlor, library, laundry room and fitness-room with separate entrance. Ascend the curved staircase and you’ll find an isolated primary bedroom with a private balcony overlooking the lake. The ensuite boasts dual sinks, heated towel bars, a soaking tub, a separate shower and 2 custom cedar lined closets (1 of them is practically the size of a bedroom). On the other side of the second level, there are multiple guestrooms and two full bathrooms. The in-law apartment has an private 1st level and 2nd level entry, open layout that offers an updated kitchen with new refrigerator, laundry area and a breakfast bar overlooking the dining area & family room. The apartment includes two bright bedrooms, a full bathroom and also has a separate exterior entrance. It can be closed off and separated from the main home. Accompanying the home office on the 3rd floor, you’ll find a big rec room/bedroom, along with a bathroom, and a slider that leads out to an additional private balcony. Don’t forget about the (whole-home) generator, RV hookups (separate septic tank for RV) and the massive attached garage with tesla charging station and plenty of space for cars & all your lake toys. This historic lakeside chateau has to be seen in person to be appreciated. Listing agent must accompany all showings. POF or Preapproval required prior to showing. Home Roof 2016 Boathouse roof 2013, Windows 2016 & 2021, Water Treatment System 2016, AC 2013, 2016, 2019 (see attachment for additional upgrades) https://www.tourdrop.com/dtour/387361/Video-MLS
Source: STELLAR #G5089151
Why Roam
Lower rates and lower down payments
The only homebuying option for you to put 5% down and get a 5% rate.
Closing guarantee
We can close in 45 days or we’ll pay the seller’s mortgage until we close.
Offer acceptance
95% of offers accepted when made with Roam. 5% accepted without.
Have questions? Email support@withroam.com
Source: Public records
Source: STELLAR #G5089151
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.