37224 Apiary Rd Grand Island, FL 32735
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About this home
Welcome to the Grand Island community of Lake County featuring a 5-acre property that offers a serene lifestyle, perfect for horse enthusiasts, great for farming and nature lovers alike. The spacious 4-bedroom, 2 ½ bath home features a split plan, a modern updated kitchen, a cozy, expansive family room with a wood-burning fireplace. The home is complemented by an enclosed pool area and a convenient 2-car garage. Surrounded by mature oak and magnolia trees, the property boasts a charming boardwalk that leads to well-appointed stables, a lush pasture, and a detached workshop. The 1500 sq ft stable is equipped with 18' ceilings, fans, a concrete floor, and is fully matted, accommodating 8 stalls, including a designated washroom and tack room. It includes an ideal space for riding and training. The property is meticulously fenced, featuring two gated access points for enhanced security. An agriculture-grade fence, approved by the Bureau of Land Management, encloses the upper paddock area, ensuring safety for untrained horses. Additionally, a 950 sq ft metal building provides ample space for a workshop, storage, or can be converted to an in-law suite. Unique to this property is a bomb shelter with 4-foot thick reinforced concrete walls, equipped with electricity, offering unparalleled safety and peace of mind. Situated a few miles north of Eustis, between Lake Eustis and Lake Yale, this property is ideally located for exploring the great outdoors. Enjoy nearby Trout Lake Nature Trails, public boat ramps, and parks, or venture to downtown Mount Dora for its charming antique shops and vibrant festivals. With Ocala, known as the "Horse Capital of the World," just an hour away, and convenient access to both the East and West Coast beaches, as well as Orlando attractions, this Central Florida gem offers the perfect balance of tranquility and adventure. Shopping, dining, and essential services are all within a comfortable 20-30 minute drive. Experience the ultimate equestrian lifestyle in this exceptional Grand Island property here in beautiful Lake County, Florida!!
Source: STELLAR #O6280776
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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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