516 Grace Ave Deland, FL 32724
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About this home
Welcome to 516 Grace Avenue, do not miss the lush landscape and adorable curb appeal. Set your eyes on this spacious 4-bedroom, 2-bathroom home boasting 2,622 square feet of living space on nearly half an acre. Built in 2004, this well-designed property combines comfort, function, and flexibility with no HOA restrictions. The home features many upgrades such as new tile throughout and updated kitchen and paint. Inside, the home has both a formal living and dining room as well as an additional family room and casual dining area, giving you plenty of space to entertain or relax. The split floor plan provides privacy, while the primary suite offers a large walk-in closet and private bath. You’ll also enjoy the convenience of an interior laundry room and a two-car garage. Outdoors, the VERY LARGE vinyl-fenced backyard is ideal for gatherings, complete with a screened-in porch and an above-ground pool perfect for warm Florida days. You will enjoy this oversized 0.44-acre lot provides plenty of room to spread out and enjoy the outdoors. This home is located in a desirable part of DeLand, just a couple of blocks from shopping, dining, and a short drive to the historic downtown district. It also is perfectly positioned between the sandy beaches and Orlando theme parks. ROOF 2 YEARS OLD, HOT WATER TANK- 2 YEARS OLD - LISTED UNDER APPRAISED VALUE. The exterior playground and trampoline do not convey. The Washer and Dryer do NOT convey. The refrigerator will be changed out prior to closing. Seller taking the one in the home at this time.
Source: STELLAR #V4945109
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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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