11453 MISTY ISLE LN, Riverview, FL 33579
This impeccably maintained residence in the prestigious South Cove community in Riverview offers a sophisticated lifestyle with access to dual sets of amenities and the added benefit of no CDD fees. The exterior has been thoughtfully enhanced with landscape curbing and vibrant tropical trees, presenting an inviting façade. Upon entering, you are greeted by a versatile bonus room, large windows that allow abundant natural light, and contemporary laminate flooring. The kitchen, designed with the culinary enthusiast in mind, provides ample counter space and abundant cabinetry, seamlessly flowing into a spacious family room that accommodates even the largest furnishings with ease. Transitioning outdoors, the newly screened and covered lanai offers a serene view of the expansive fenced yard, ideal for outdoor activities and relaxation. The master suite, situated at the rear of the home for optimal privacy, is highlighted by multiple windows and a generous walk-in closet, with an en-suite bathroom featuring dual sinks, extensive storage, a walk-in shower, a separate soaking tub, and a private water closet. The secondary bedrooms are conveniently located near the guest bathroom and laundry area, complete with a brand-new washer and dryer. The garage is equipped with custom-built shelving and pull-down attic access, offering extra-thick insulation and additional storage space. Recent upgrades include a new roof, a new A/C system, and professionally installed detachable hurricane shutters, ensuring comfort and security during storms. Residents of this community enjoy a wealth of amenities, including pools, playgrounds, tennis courts, and a fitness center, all within close proximity to shopping, dining, and major highways for easy access to the airport and beaches.
You may be able to put down less than the total down payment amount of $91,804 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: #t3544094