8490 SERRANO CIR, Melbourne, FL 32940
Welcome home to the luxurious gated community of Valencia located in the top 10 master planned community of Viera. This beautifully crafted custom built executive home sits on a .3 acre lake front lot offering 4 bedrooms + office, 3 baths & a side entry 4 car oversized garage built for a car enthusiast. Upon arrival the grand entrance to this home makes a huge statement coupled with the double door glass entry. As you enter you will be captivated by the soaring ceilings with double trays in the great room & dining room along with the crown molding details. The gourmet kitchen is a chefs paradise with a 5 burner gas cooktop, wall oven and huge kitchen island with ample room to prep & entertain. The kitchen showcases white painted custom cabinetry, beautiful granite countertops and a spacious pantry that is hidden with a cabinet door. Soak in the beautiful water views from great room with the huge pocketing triple slider doors, as well as the several large windows in the dining room. Or enjoy the view from your oversized lanai with huge fenced in yard and privacy landscaping along both property lines. The master wing provides peace and tranquility with a gorgeous spa-like master bath offering a huge walk in shower with 2 shower heads and 2 rain heads finished with frameless shower glass! His & hers vanities with espresso shaker cabinets provide tons of cabinet storage capped by exquisite granite. His & hers closets do not disappoint with built-in custom closet systems. The spacious master bedroom has a double tray ceiling with detailed crown molding and a glass french door with direct access to your lanai. This floor plan offers large rooms with walk in closets to satisfy your storage needs. The Garage has a Tesla car charger and epoxy sealed floors. The attic access stairs in the garage lead you to a huge storage area where the trusses have been re-engineered. Insulated garage doors & radiant barrier plywood help reduce your energy bills. Located in Addison Village you are close to restaurants, shopping, golf, brevard zoo, A-rated schools and the Addison Village Club! Make sure to view this move-in ready home in person to appreciate everything it has to offer.
You may be able to put down less than the total down payment amount of $385,826 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: #977881