655 Katherine Ave, Orlando, FL 32810
4 beds · 2 baths · 1,097 sqft
Welcome to this beautifully renovated 4-bedroom, 2-bathroom home, offering both comfort and style. Boasting a spacious bonus room, this home is perfect for a growing family or anyone in need of extra space for a home office or entertainment area. The fully upgraded kitchen is a true standout, featuring sleek quartz countertops, ample cabinetry, and stainless steel appliances that are included with the home. Key features of the home include a 6-year-old air conditioning unit, new windows installed just 2 years ago, and a roof that’s also only 6 years old, ensuring peace of mind for years to come. Every room is equipped with a ceiling fan for optimal comfort, and the indoor laundry room adds convenience to daily living. The expansive backyard offers plenty of room for recreation, gardening, or entertaining, with no rear neighbors providing additional privacy. Enjoy the bounty of nature with fruit-bearing trees, including banana, avocado, and mango trees, making it the perfect spot for outdoor relaxation or a fresh harvest.The home is ideally located within walking distance to Catalina Park, where you can enjoy a variety of outdoor activities such as basketball, working out, picnicking, or taking in the views of Lake King.This home combines modern amenities with a fantastic location, making it the perfect place to call home. Don’t miss your chance to view this exceptional property!
Source: STELLAR #O6288249
Financials
Source: STELLAR #O6288249
Source: Public records
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%. 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.
Other resourcesWhat 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.