695 LORELEI AVE, Melbourne, FL 32901
- 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
You may be able to put down less than the total down payment amount of $217,631 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: #1008265