465 Buchannan Dr Davenport, FL 33837
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About this home
**SELLER MOTIVATED.** SELLER WILL CONTRIBUTE $5,000.00 TO BUYERS' CLOSING COST** ASSUMABLE MORTGAGE RATE OF 2.544 **Whit and FHA. Welcome home to Northridge Estates!!! This charming, family-oriented move-in-ready house features three bedrooms, two bathrooms, and a two-car garage. Enjoy outdoor living with a back porch and an extended patio. The home comes fully equipped with a washer, dryer, refrigerator, stove, dishwasher, microwave, and window blinds. Inside, you will find laminate wood-like flooring throughout all the bedrooms, and ceramic tile in the social areas and bathrooms. The interior and exterior have been freshly painted. The property is conveniently located, with 7 minutes to the hospital, 3 minutes to Highway 27, 20 minutes to Disney, and 10 minutes to Amazon. Located in the vibrant and growing city of Davenport, this well-maintained home offers the perfect blend of comfort and convenience. The open-concept layout features a spacious living area that seamlessly connects to the dining space and kitchen, creating an inviting atmosphere for both entertaining and relaxing. Enjoy Florida’s beautiful weather on the covered porch and extended patio, ideal for enjoying morning coffee or evening gatherings. The primary suite offers ample closet space and a private bathroom, while the other two bedrooms are perfect for a growing family. Nestled in a friendly community and just minutes away from local shops, dining, and outdoor activities, this house offers tranquility alongside easy access to community amenities, including a pool and playground. Make this lovely home yours and experience the best of Davenport living!
Source: STELLAR #S5132060
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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.