7 Farver Ln, Palm Coast, FL 32137
3 beds · 2 baths · 1,736 sqft
Under contract-accepting backup offers. One-of-a-kind 1/2-acre property with 3 Bed / 2 Bath, 4 Car Garage, circular drive, firepit, and park like setting. This meticulously well-kept home features: a beautiful etched entry door, split plan, 10’ft high ceilings throughout, vaulted in the living and kitchen area, tile and wood laminate throughout. The master suite has a double tray ceiling, ensuite with walk-in closets, double vanities, jetted tub and walk in shower. 2 guest rooms separate by guest bath and private hallway. A dream kitchen with new skylight hurricane rated, granite counters, ss appliances, stone backsplash, bar-top and breakfast nook overlooking back yard. In home laundry off the kitchen. 9’ ft high slider doors lead to the screened enclosed lanai with custom Coolaroo blinds. This backyard could be your tropical oasis (plenty of room to add a pool) with concrete walkways between the home, backyard and the additional detached oversized 2 car garage 28x24 with a 30amp plug, and lots of storage –work bench area. An additional woodshed and parking pad for a boat, trailer or RV next to the detached 2nd garage and completely fenced yard. Sprinkler system on private well, 10-year transferable termite bond on both the home and detached garage. Roof 2/2019 on home. Close to the Palm Harbor shopping area, banks, medical facilities, restaurants, highways, and the beaches. This is a must see.
Source: STELLAR #ns1081982
Source: STELLAR #ns1081982
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: #ns1081982