82 Magnolia Dr, Saint Augustine, FL 32080
4 beds · 3 baths · 1,694 sqft
***2.75% Assumable VA Loan Opportunity*** You can find this tastefully updated Cape Codder in the coveted, high and dry, Lighthouse Park neighborhood. From the moment you drive by or pull over to see what's just past the white fence and tropical foliage, you are instantly transported to a time where craftsmanship ruled supreme. Once inside you can't help but be taken by the welcoming architectural lines as you gaze up the staircase and over to family room back to the dining space, half bath and to the wonderfully appointed kitchen. The vintage wood flooring is your guide as you roam the first floor eventually spilling into the primary suite with its recent beautifully transformed bathroom. This spacious bedroom includes custom cabinetry and a rustic barn door encasing an ample walk in closet. Up the stairs you go to find three more bedrooms and a unique full bath all with their own personality. Leaving the home through the kitchen, down the backstairs you'll enter your own private multi tiered outdoor relaxation environments. There's a top notch split deck just off the primary suite perfect for the morning coffee or evening libation. The lower pavered area features a fire pit and more than enough room for a grill, smoker or whatever your heart desires. The second elevated deck behind the enormous carport is currently designated for dining or simply just relaxing after you've enjoyed an outdoor shower. Another absolute notable of this treasured home is the gorgeous established landscaping quite literally everywhere you look. Did we mention it also has a basement for tons of extra storage space? Its premier location is within walking or a short bike ride to everything that makes this storied community so special, including RB Hunt, one of the top elementary schools in the state, the St Aug Amphitheater, the beach, Alligator Farm and so much more. We look forward to your visit so we can answer any and all of your questions.
Source: REALMLS #2021495
Source: REALMLS #2021495
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: #2021495
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