5220 Red Coral Cir Mount Dora, FL 32757
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About this home
***Assumable Loan at 4.75% interest rate *** Stylish, Spacious, and Single-Story Living in Stoneybrook Hills. This is single-story living at its finest! This beautifully designed, move-in-ready home perfectly blends modern comfort with everyday functionality. Built in 2022, this one-story residence features 4 bedrooms, 3.5 bathrooms, and 2,909 square feet of thoughtfully designed living space, offering the ideal balance of openness and privacy. Step inside to discover two versatile flex rooms that can easily adapt to your lifestyle—perfect for a home office, media room, gym, or playroom. A dedicated dining area sets the stage for hosting family dinners and celebrations with ease. At the heart of the home, the open-concept kitchen, living, and dining spaces flow effortlessly together. The extra-large walk-in pantry, complete with custom shelves and drawers, provides a Pinterest-worthy organization system that makes everyday living beautifully efficient. The primary suite is your personal retreat, featuring dual custom closets, a spacious ensuite bath, and private separation from the guest rooms thanks to a three-way split floor plan—a layout designed for both comfort and convenience. Extend your living outdoors to the expansive covered rear porch, perfect for morning coffee, evening gatherings, or relaxing in the Florida sunshine. With energy-efficient features throughout, this home delivers both style and practicality. Save hundreds of dollars every month by assuming the current 4.75% fixed rate mortgage! The sellers investment in solar is to your benefit with a set electric bill of $134/per month. Nestled within the gated community of Stoneybrook Hills, you’ll enjoy resort-style amenities including a clubhouse, fitness center, pool, playground, tennis and pickleball courts—all just minutes from the charm of downtown Mount Dora with its shops, dining, and year-round festivals. You can’t afford to not see this house! Schedule your private tour of 5220 Red Coral Circle today and experience the best of Central Florida living.
Source: STELLAR #O6312567
Loan details
Neighborhood
45-day close guarantee
Close stress-free in 45 days, handled start to finish by Roam.
Roam Price Match
If you find a better price on any home, we’ll match it.
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.