12 Minnow Dr Ormond Beach, FL 32174
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About this home
Don't miss this Exquisite Custom Home with Exceptional Outdoor Living in Ormond Lakes.This stunning 5-bedroom custom estate captures timeless elegance and modern comfort. Elevated above the street on an oversized lot with a brick paver circular drive and mature landscaping. Upon entering through the etched double doors, the home welcomes you with refined craftsmanship showcased in tray ceilings, crown molding, and intricate niche details. Designed for exceptional indoor/outdoor enjoyment, the semi open plan features a spacious pool area visible from the family room, kitchen, breakfast nook and primary bedroom. The expansive screened pool area features waterfalls, a fountain, and an extended pavered deck, creating a beautiful serene backdrop. The covered lanai has hookups for an outdoor kitchen and future fire pit, making this space the ultimate setting for gatherings.The specially designed, custom kitchen is a highlight, featuring KitchenAid appliances, a gas cooktop with electric oven, island with microwave drawer, hammered copper sink, large peninsula with serving bar, and a generous walk-in pantry. The huge primary suite offers two large walk-in closets and a big bonus room that can be used as an office, workout room, nursery, or little ones visiting grands. The primary suite is enhanced by a beautifully appointed bath with separate vanities, makeup vanity, jetted tub, and oversized rain shower as well as a private water closet. A thoughtfully designed guest wing includes two bedrooms with a shared bath, plus a pool bath with walk-in shower, a study or small bedroom and large laundry room. Down the hall, take the stairs to bedroom five with its own bath, walk-in closet and lots of natural light.The 3 car oversized garage also includes an air conditioned storage room and coated floors. The yard is irrigated with an on site well and includes a buried propane tank. Propane hookups are waiting for a future spa heater, patio grille and pool deck firepit. Nestled within the highly desirable Ormond Lakes community, residents enjoy community amenities including a clubhouse, pool, tennis courts (lined for pickleball), basketball half-court, playground, and a scenic 40-acre lake in the middle of the community with fishing pier and picnic area. Conveniently located close to I-95 for traveling and commutes, shopping, entertainment and only seven miles to the beach!
Source: STELLAR #V4945073
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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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