8704 Deadstream Rd Honor, MI 49640
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About this home
Stunning and cozy smart-cabin retreat with modern amenities across the road from Big Platte Lake in Benzie County and approx. 10 minutes' drive to Lake Michigan and 5 minutes to Sleeping Bear Dunes National Lakeshore Park. A wood-plank vaulted ceiling in the large living area provides northern Michigan appeal with multiple windows to let in the light and scenery. There is a separate family room/large den can double as your private reading room or office. Kitchen features include a tiled backsplash and stainless fridge, plus an under-the-sink reverse osmosis filter for the freshest water. Two bedrooms and two bathrooms and laundry on one level and a ladder to a sleeping loft for the kids. Tech-supplied comforts include a smart thermostat, dual climate zones, and smart-controlled lighting for energy-efficiency. Foot comfort and convenience include wood, vinyl, laminate and carpeted flooring in all the right rooms. You'll appreciate the whole-house humidifier for comfort in every season, and be prepared for the unexpected with a whole-house natural gas generator. A spacious deck and firepit are ideal for relaxing gatherings. A new roof boasts 50 year shingles. This location offers it all: breathtaking natural wonders, nearby access to boating, kayaking, paddleboarding and world-class fishing, plus shopping and amenities at charming nearby towns such as Frankfort, Beulah and Benzonia. Offering the Best of all possible vacation worlds, with exciting activities and events just minutes away in multiple-award-winning Traverse City.
Source: REALCOMP #78080056858
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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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