Welcome to 16474 Trading Post Road, a charming, well-maintained home that captures the essence of Florida living! Perfectly positioned on a corner lot in picturesque Burnt Store Lakes. This 3-bedroom, 2-bathroom home offers both privacy and a bright, inviting atmosphere from the moment you arrive. A circular driveway framed by mature tropical landscaping sets the stage for this attractive residence. Step inside through the screened and tiled entry to discover an open, airy split-bedroom floor plan featuring laminate flooring throughout the main living areas and bedrooms and tile floors in the kitchen and baths. The spacious Great Room impresses with cathedral ceilings, chair rail, and 3-panel sliding glass doors that open wide to the screened and covered lanai, seamlessly blending indoor and outdoor living. Enjoy peaceful mornings on your east-facing lanai, where you can savor Florida’s brilliant sunrises, or entertain on the adjoining paver patio surrounded by tropical greenery including mango, palms, hibiscus, and bougainvillea. The kitchen is light and bright with attractive beadboard-faced cabinets, a stainless double-basin sink, a breakfast bar with recessed lighting, pantry closet, and a cozy dining alcove highlighted by a beadboard accent wall and three arched windows overlooking the front yard. The primary suite is a relaxing retreat featuring laminate flooring, chair rail, a large window that fills the space with natural light, and a huge walk-in closet. The ensuite bath is accessed via a pocket door and includes a high single-sink vanity, walk-in shower with door, and linen closet. The barn door separating the guest suite area offers privacy for family and visitors. The second guest bedroom is extra-large, and all guest bedrooms feature roomy closets with bifold doors. The guest bath includes a combination tub/shower and highboy toilet. Practical updates include fresh exterior paint, a new roof in May 2024, and a new garage door opener. The 2-car garage features vinyl flooring over concrete, utility sink, washer and dryer, and a manabloc plumbing system. The swale on the left side of the property enhances privacy and open space around the home. This property combines thoughtful updates, comfortable design, and timeless Florida charm—ready for you to move in and start enjoying your next chapter! Burnt Store Lakes residents enjoy public water/sewer, a community park with covered picnic areas, playground, and restrooms, plus a kayak ramp accessing Charlotte Harbor and its incredible wildlife—manatees, porpoises, sea turtles, and abundant game fish. Adjacent Burnt Store Marina offers a full-service deep-water marina, restaurants open to the public, golf, and optional dockage. Just a short drive to Downtown Punta Gorda or Cape Coral, this location provides the best of Southwest Florida living. Experience the perfect blend of luxury, comfort, and natural beauty—this is Florida living at its finest.
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.
