705 Lake Ada Blvd Dundee, FL 33838
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About this home
Set on a beautiful one-acre lot overlooking tranquil lake Ada and orange groves, this 4-bedroom, 2-bathroom home offers the perfect combination of modern upgrades, energy efficiency, and a layout designed for entertaining. The home features just over 2,500 heated square feet, plenty of living spaces/flex spaces upstairs and downstairs, a fantastic wrap around open deck upstairs, a screened enclosed porch with plenty of seating space downstairs, all overlooking the spacious yard as well as the lake views. The 4th bedroom(which does not currently have a closet but one can easily be added) and the primary bedroom is located downstairs. Fully updated in 2022 (flooring, appliances, roof, windows, kitchen and bathrooms) this spacious two-story home features a well-thought-out floor plan, making it ideal for hosting gatherings or enjoying peaceful moments at home. A metal roof with solar panels keeps energy costs impressively low, with an average electric bill of just approx. $37 per month (There are 40 Rec brand solar panels of 400 watt 1600kWh system with 25 year parts and labor warranty-92% warrantied production output. The panels are attached with clips to the metal roof and not drilled. The buyer is not responsible for any loan for the solar panels as the seller is paying this off. Just take advantage of the low monthly bill!). Outside, the expansive property provides plenty of space for outdoor enjoyment, whether it’s gardening, playing, or simply unwinding while taking in the stunning natural surroundings. You will enjoy the 2 car detached garage whether it be for parking or just extra storage. With modern updates, energy savings, and breathtaking views, this home is truly a must-see. Schedule your private showing today! **Click on the virtual tour link to take the Matterport 360 degree immersive tour of this beautiful home. Just like you are walking through the home in person! Call your REALTOR today to set up your appointment!
Source: STELLAR #L4950586
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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.