801 BURR OAK DR, Ocoee, FL 34761
Are you in search of a private sanctuary to escape the chaos of city living? Do you possess a deep love for gardening? Are you yearning for a remarkable home that has been completely renovated, boasting a modern open floor plan, brand new kitchen, bathrooms, and exquisite vinyl plank flooring? Imagine having a colossal, air-conditioned Florida Room, with a convenient kitchen sink. This space is perfect for entertaining guests. And that's not all! This extraordinary home also offers a private oasis - a fenced backyard with a screened-in pool, as well as a side yard with raised garden beds, eagerly awaiting your touch to transform it into a bountiful vegetable garden. Look no further, for you have discovered your dream home! Nestled in the charming Harbour Highlands neighborhood of Ocoee, this rustic haven boasts oversized lots and majestic oak trees. It is also conveniently located just a stone's throw away from the renowned Tom West Blueberries "U-Pick" farm. Additionally, a short 1.5-mile stroll will lead you to Bill Breeze Park on Starke Lake, where the annual Ocoee Music Festival takes place. Here, you can indulge in a delightful array of festival food, exhilarating carnival rides, a captivating car show, a refreshing beer garden, and unforgettable musical performances. The sellers of this remarkable home are eager to embark on their next adventure and have priced this gem fairly for a swift sale. Don't hesitate to ask your agent for a virtual walkthrough to discover the unique features that make this home the most exceptional deal on the market right now. Noted that, the septic tank and a brand new drain field was put in which explains why the front lawn is without grass. Furthermore, a brand new water filtration system was installed ensuring peace of mind for the fortunate new owner.
You may be able to put down less than the total down payment amount of $26,921 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: #o6216088