A spacious and centrally located home brimming with potential and ready to become a true showplace. Perfect for investors or buyers seeking a large home to customize. This 3 bedroom 2 bath split plan residence offers over 2,100 square feet of living space and a floor plan designed for comfort, functionality, and flexibility. Ideally situated just off Gleason Parkway, this home provides easy access to everything Cape Coral and the surrounding Southwest Florida area have to offer, including parks, shopping, restaurants, and the beaches of Fort Myers. From the moment you arrive, you’ll notice the home’s generous footprint and solid structure. A side load garage adds curb appeal and functionality, featuring a built-in workshop ideal for storage, hobbies, or home projects. Inside, the kitchen offers a gourmet kitchen that serves as the heart of the home, with ample cabinetry, a pantry, and a center island with cooktop. The adjoining open living area features a cozy fireplace and large sliding glass doors leading to the screened lanai, creating an inviting flow for entertaining or relaxing. The oversized primary suite provides plenty of room for a luxurious retreat. It includes two walk-in closets, a spacious bath, and direct access to the lanai, perfect for adding a private outdoor sitting area or morning coffee nook. The split-bedroom layout ensures privacy, with secondary bedrooms and a full bath located on the opposite side of the home, making it ideal for families or guests. An indoor laundry room adds everyday convenience, while the fenced backyard provides a safe and private space for children and pets. While the home does need some updating, it’s priced with that in mind, offers a chance to create substantial equity. With a few cosmetic improvements this property could easily stand out among neighboring homes. The floor plan is highly functional as-is, and has a strong foundation to build upon without major reconfiguration. This layout provides endless possibilities for customization. Positioned in central Cape Coral, this property is minutes from Santa Barbara Blvd and Cape Coral Parkway where shopping and dining are plentiful. Easy access to Fort Myers, Fort Myers Beach, and Downtown Punta Gorda all less than an hour’s drive away. Outdoor enthusiasts will love being close to Rotary Park, Four Mile Cove Ecological Preserve, and Jaycee Park, where you can enjoy nature trails, kayaking, and birdwatching. Families create fun nearby at Sun Splash Waterpark, Gator Mike’s Family Fun Park, and Cape Coral’s many recreation centers and sports facilities. It's your opportunity to own a large, well built home in a sought after location with endless upside potential. With its strong structure, spacious design, and ideal setting, this property is a blank canvas waiting for your vision. Add your own style and it will shine as a standout residence that combines size, functionality, and prime location, the perfect blend for today’s Cape Coral lifestyle.
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.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
