825 Mellowood Ave, Orlando, FL 32825
3 beds · 3 baths · 1,956 sqft
PRICE IMPROVEMENT! Charming Country Retreat - 3 Bed, 2.5 Bath, 2-Story Home. Discover the peaceful charm of this custom built three-bedroom three-bathroom home, offering beautiful sunset views and thoughtful features throughout. Renovated just two years ago, this home has new LVP floors throughout, double-pane Low-E windows, a gourmet kitchen with solid wood cabinets, all new stainless-steel appliances including a gas stove, and quartz countertops in the kitchen and bathrooms. The tankless gas water heater provides instant hot water at a fraction of the price of an electric water heater. The welcoming oversized living room features vaulted ceilings and a grand stone fireplace, just right for cozy evenings at home. A spacious master bedroom with two walk-in closets is conveniently located on the first floor, and the large master bath features a double vanity. Upstairs, a flexible family space or children’s retreat with recessed electrical floor receptacles opens onto a private balcony overlooking the oversized back yard. One of the bedrooms upstairs has an en-suite bathroom with a double vanity and two closets, and the other bedroom has a large walk-in closet and an additional storage space. The laundry room is located on the first floor and is equipped with a washing machine and two dryers, one electric and one gas. The half bath and dining area in the kitchen are conveniently located next to double sliding glass doors that open onto a covered porch. Just beyond the covered porch is a spacious back yard complete with a concrete patio, fire pit, pergola with swing, low voltage lighting, fruit trees, and a paver patio complete with hot and cold running water and electricity. Perfect for entertaining friends or enjoying the tranquility of the outdoors. A well also provides water for irrigation, gardening, pressure washing without driving up the water bill. This warm and welcoming custom family home with country charm is waiting for you to call it yours.
Source: STELLAR #o6253365
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #o6253365
Source: Public records
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 30-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: #o6253365
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.