889 Terrapin Dr, Debary, FL 32713
5 beds · 3 baths · 3,689 sqft
Welcome to 889 Terrapin Drive, a spectacular Newport Model nestled in the highly desirable Rivington community of DeBary. This 5-bedroom, 3-bathroom home spans an impressive 3,600 sq ft and is part of the “Live Beyond Your Backyard” lifestyle. Rivington residents enjoy exclusive amenities, including a resort-style pool with an indoor/outdoor pavilion, playground, abundant green spaces, and beautiful trails for walking or biking. Step inside to a versatile main floor featuring a flexible room that works perfectly as a home office or formal dining area. The kitchen is beautifully appointed with granite countertops, 42-inch cabinets, a built-in microwave and oven, a range hood, and large windows that flood the space with natural light. The thoughtfully located downstairs bedroom is ideal for multigenerational living, offering both privacy and convenience. Upstairs, a sprawling loft awaits, perfect for cozy movie nights, game days, or simply as a secondary living space for unwinding. Four spacious bedrooms provide plenty of privacy, including the luxurious primary suite, a true sanctuary featuring oversized windows and private balcony access for your own serene retreat. The spa-like primary bath includes a deep garden tub, a walk-in shower, and an impressively large closet with abundant storage. Enjoy outdoor living at its best, with a downstairs covered patio perfect for entertaining and an inviting upstairs balcony attached to the primary suite for a private escape. Built in 2022, this home is under the builder’s structural warranty until 2035, offering peace of mind for years to come. Priced at $725,000 and in immaculate, move-in-ready condition, this home is ready to welcome its new owners. Don’t miss out—schedule your showing today to experience this exceptional property in person!
Source: STELLAR #o6255507
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #o6255507
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 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: #o6255507