168 Magneta Loop Auburndale, FL 33823
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About this home
Welcome Home! This stunning 5-bedroom, 4-bathroom residence is located in the highly sought-after gated community of Estates of Auburndale. With over 3,500sq.ft., from the moment you enter, you’ll appreciate the thoughtful layout, elegant finishes, and generous living spaces perfect for both everyday living and entertaining. Downstairs features high ceilings, a spacious bedroom with a full bath conveniently located just outside the door—ideal for guests or multigenerational living. The formal dining room boasts crown molding and rich laminate flooring, while the remaining common areas showcase easy-care tile. The chef’s kitchen is a true centerpiece, offering granite countertops, 42-inch espresso cabinets with crown molding and glass inserts, stainless-steel appliances, a butler’s pantry, and a huge walk-in pantry for ample storage. Enjoy family gatherings in the bright family room adorned with crown molding and recessed lighting, dine casually at the breakfast bar illuminated by pendant lights, or relax in the kitchen nook that looks out to the lanai and spacious backyard. The laundry room is conveniently located downstairs and features built in folding tables along with the washer and dryer that convey. The wrought iron stair railing adds a touch of sophistication as you head upstairs! Upstairs, the large loft provides a perfect flex space for a media room, game room, or home office. The primary suite is spacious and inviting, featuring an ensuite bathroom with dual vanities, cultured marble countertops, a garden tub, separate shower, private water closet, and a massive walk-in closet. Three additional bedrooms and two full bathrooms—including one ensuite—complete the upstairs layout. Located in a peaceful, gated community with beautiful surroundings, this home offers comfort, style, and convenience. Don’t miss your opportunity to make this your dream home in the Estates of Auburndale!
Source: STELLAR #S5136867
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.