1110 SW 1ST ST, Cape Coral, FL 33991
This beautiful, bright home has 4 bedrooms and 3 full baths! Large open living spaces, oversized lanai and sits on one of the widest canals in the area. Access to several small lakes for kayaking, fish from your backyard! Ask for details about 3.5% assumable loan too! This will save hundreds of dollars monthly! Also NO flood insurance required here, not in an HOA and the most amazing open floorplan with this 2018 built home. As you enter home you will immediately be impressed by the double sliders that offer the best view of your waterfront oasis. The home has a desirable open floorplan and truly feels much larger than its 2192 square feet. Even your master suite overlooks that gorgeous canal and the home is a split bedroom floorplan with master on one side and guest bedrooms on opposite side of home for added privacy. The guest bedrooms are spacious and there is also a full 3rd bath leading to your lanai making it the perfect potential pool bath. Covered lanai overlooking the large canal is oversized as well. This canal leads to a small lake which makes for a great day of kayaking, paddleboarding or just lay back and enjoy the wildlife that visits the area in your very own private paradise. Roof was replace in 2023. Call to make an appointment to view this home today. Make sure to view the aerial videos of home too!
You may be able to put down less than the total down payment amount of $231,306 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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: #224040579