9342 OGLETHORPE DR, Groveland, FL 34736
***PRICE REDUCED! SELLER IS OFFERING $5,000 CREDIT TO BUYERS!*** This 4-bedroom, 2-bathroom gem promises comfort and style. Step into the spacious foyer, where you'll find the first bedroom, perfect for a guest room or a home office. The hallway seamlessly transitions into an inviting kitchen and a combined living/dining area, complete with appliances, washer, and dryer. From the main living space, a hallway leads to two additional bedrooms and a full bathroom. On the opposite side of the house, discover the sunlit owner's suite featuring a walk-in closet, a stand-up shower, and a double vanity. The rooms are carpeted for comfort, there is LVP flooring in the living area, and tile in the bathrooms and laundry. The backyard features a covered paved patio, perfect for relaxing, social gatherings, and BBQs—plus, no rear neighbors for added privacy! To complete your privacy in the backyard, all you need to do is add one side of the fence. Cypress Oaks community features a community pool, kids playground, dog park, and direct access to the South Lake Trail, which runs along the front of the community. You can enjoy hiking, biking, walking, or rollerblading on this scenic byway along Lake Minneola and Hiawatha Park. Additionally, you'll have easy access to shopping and restaurants, hospitals, and nearby Highway 50, Don't miss out on the chance to make lasting memories in this charming home. Call for a private tour today!
You may be able to put down less than the total down payment amount of $192,461 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: #g5082512