712 Timberwilde Ave, Winter Springs, FL 32708
4 beds · 3 baths · 2,368 sqft
The search is over! This beautiful executive home is located in the sought after neighborhood of WINDING HOLLOW. FLEXIBILITY is the key word for this amazing floorplan. Formal and informal living areas, a very large kitchen with a lengthy breakfast bar, spacious GRANITE counters and 42" SOLID WOOD CABINETS plus an island, greet you as you enter the home. The family room has a triple sliding glass door that opens all the way to expand the living area onto the SCREENED IN PORCH with a built-in HOT TUB. This plan boasts a three-way split bedroom arrangement. The Master bedroom is secluded with a sliding glass door that leads to the screened porch. There is a second bedroom down a short hallway with an adjacent bath which would be perfect for a nursery or an in-home office. On the other side of the family room is the second set of bedrooms that could be used as a mother-in-law area, or a guest suite. So many options! Beautiful front load washer and dryer stay with the home. The laundry room has a very spacious laundry sink and cabinets. TOP RATED SEMINOLE COUNTY schools round off this perfect location. Close to major roadways and shopping. New roof in 2018. New AC in 2018. New water heater in 2022.
Source: STELLAR #O6289571
Source: STELLAR #O6289571
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.