Fantastic Opportunity to Live in this Highly Sought After Area of Cape Coral. Located Close to Shopping, Restaurants and Schools with Easy Access to all Major Roads. This 2018 3Bed 2Bath LGI Fiesta Model has been Lovingly Cared for and Shows Pride of Ownership with Beautiful Curb Appeal. The Front Entry has been Screened-In to add Privacy and Provide a Breezeway for those Mild Days. This home has a Split Floor Plan with an Open Concept Living, Dining and Kitchen Area that allows for Easy Entertaining and Functionality. Through the Front Door you Step into a Foyer that Opens to the Living Room with Vaulted Ceilings. The Living Room is the Gathering Area, it is Large enough for Multiple Seating Arrangements and the Sliding Glass Door provides Access to the Screened Lanai which adds Natural Light. The Kitchen has Ample Cabinets, with Stone/Granite Counters, a Pantry for Extra Storage and an Island for Extra Seating. The Dining Area is Open to the Kitchen and Invites Cooking and Conversations with The Chef while offering a Great Space that will Accommodate Most Table Sizes. On this side of the home you will Find Two Nicely Sized Guest Bedrooms, each Carpeted with their own Closets, They share the Second or Guest Bathroom that has a Tub/Shower Combo. The Owner's Suite is Oversized and Carpeted with its Own Ensuite Bathroom with a Full Sized Shower. The Owners Walk-In Closet is a Bonus and has Additional Shelving. The Laundry Room is located just outside the Owners Suite, a nice Convenience. Let's Explore the Lanai with a Massive Area of 20X30 sq ft. All Screened-In with an Insulated Pan Roof. A Great Room for all Your Family and Friends to Gather. Just Imagine How You Can Use All this Extra Space. You can Also Enjoy the Open Air Patio, Large enough for Extra Seating and All your Outdoor Cooking. This Home Has upgraded Lighting and Fans throughout. The Garage is Oversized at 21x20 sq ft with a Generator Plug. Now Let's Cover the Exterior Highlights That Include New Roof 2023, Mature Landscaping with Fruit Trees, an Oversized Driveway that can Accommodate Parking Extra Vehicles, a Boat, Trailer or an RV. A Bonus is the RV Plug has already been Installed. This could be Your New Home! Make an Appointment!
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.
