5201 Highbury Cir, Sarasota, FL 34238
3 beds · 2 baths · 1,803 sqft sqft
Welcome to this magnificent Lakeview home. The house was renovated in 2020 to a modern living style. Located in the heart of the desirable Hampton community at Palmer Ranch, this lovely home combines modern comfort and convenience seamlessly. Every detail has been updated to create a welcoming atmosphere for both daily living and hosting guests. Upon entering, you are welcomed by a spacious open floor plan that connects the living area with high-quality vinyl flooring, vaulted ceilings, leading to a state-of-the-art custom kitchen. The kitchen features top-notch granite countertops and new stainless steel appliances from 2020, perfect for cooking and socializing. The house offers three large bedrooms, including a generous master suite with a large walk-in closet – your own personal oasis at the end of the day. Full owned security system with ADT. Venture out from inside and onto the pristine screened lanai where you'll find an in-ground hot tub complete with a new pump and heater in the year 2024. The spacious backyard offers a breathtaking lake view, perfect for summer BBQs or just soaking up the sun in Florida. Living in the Hampton at Palmer Ranch means enjoying a hassle-free lifestyle with affordable HOA fees and no CDD fees. Community amenities include a large swimming pool, ground maintenance, and reclaimed water for lawn irrigation. Palmer Ranch is more than just beautiful houses; it's about the way of life it offers. Furnishings if the buyer wants to purchase them at an additional cost. With its proximity to the top-rated Siesta Key Beach, The Legacy Bike Trail, multiple shops and dining options, The YMCA, and excellent schools, everything you need is right at your fingertips.
Source: STELLAR #a4615029
You may be able to put down less than the total down payment amount of $289,522 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #a4615029
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step. Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #a4615029
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.