118 Fishermans Cove Dr Edgewater, FL 32141
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About this home
**SHORT SALE** Welcome to 118 Fishermans Cove Drive, a beautifully maintained 4-bedroom, 2-bathroom home located in the desirable gated community of Fisherman’s Cove in Edgewater, Florida. Built in 2016, this modern residence offers approximately 1,816 square feet of comfortable living space with an open-concept layout that seamlessly connects the kitchen, dining, and living areas — perfect for both entertaining and everyday living. The kitchen is a standout feature, boasting premium countertops, stainless steel appliances, and an oversized island with bar seating. The private master suite is thoughtfully separated from the guest bedrooms and includes an en suite bath and generous closet space. Three additional bedrooms provide flexibility for guests, a home office, or hobby rooms, all conveniently situated near the second full bathroom. Additional highlights include an indoor laundry room, a spacious two-car garage, and a fully fenced backyard that’s ideal for outdoor gatherings, pets, or a future pool. Fisherman’s Cove is a peaceful, HOA-managed community offering a secure, gated entrance and a community dock with stunning views of the Indian River — perfect for fishing, kayaking, or simply relaxing by the water. With close proximity to local shopping, dining, and just a short drive to the beach, this home offers the best of coastal Florida living. Don’t miss this rare opportunity to own a move-in-ready home in one of Edgewater’s most sought-after communities.
Source: STELLAR #NS1086247
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FAQs
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.
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.
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.
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.
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 “Save search” 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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
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