695 Lorelei Ave, Melbourne, FL 32901
3 beds · 2 baths · sqft sqft
- Why wait to build when this 2021 home is available-START LIVING THE CAREFREE FLORIDA LIFESTYLE IN THE MOST PREMIER KEY WEST INSPIRED COMMUNITY OF ALAMANDA KEY.....EVERY DAY IS RESORT STYLE LIVING IN THIS GATED 55+ ACTIVE COMMUNITY!! COSTAL LIVING AT ITS BEST!! Just over 6 miles to Indialantic Beach and about 3+ miles to Downtown Melbourne. Shopping and dining is less than 1/2 mile away, and easy to get to. This beautiful community features a Community Club House with a heated pool/spa, exercise fitness room, library, meeting room, kitchen, tennis court, and 2 ponds with sidewalk walking paths, with benches for quite time. The best part of this community is this Custom Built Luxury Home by LifeStyle Homes, this is on a large corner lot at the end of the street for privacy. At 1787 SF with 3 bedrooms and 2 full baths, you have plenty of room for family gatherings. This newer home was just built in 2021, and well maintained. Some of the features include, 8' doors, 3 section glass slider doors leading to the screened back porch, crown molding, wood look tile, rounded corners for the drywall, recessed can lights, ceiling fans in all rooms, including the screened porch, tub and shower in the master bath, natural gas range, Cambria Quartz Counters, SS appliances, and double pane windows. On the exterior you will be proud of your metal roof, 6" gutters, hurricane panels,10' x 14' paver patio, paver driveway, and paver front porch and walkway - For peace of mind you can take a trip to see the grandkids and the HOA takes care of your lawn, tree / bush trimming, and the security of a gated community. SETUP A SHOWING TODAY!!!!WOW! VETERAN'S, this home has a 2.5% assumable VA Loan, with your VA approval
Source: BREVARDMLS #1008265
Interest rate and monthly payment estimated based on public records.
Source: BREVARDMLS #1008265
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: #1008265
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.