1188 Paraclete Rd, Punta Gorda, FL 33983
3 beds · 2 baths · 2,060 sqft sqft
This charming residence offers 3 bedrooms plus a versatile den (or 4th bedroom) and is perfectly situated in a serene cul-de-sac. The kitchen has been beautifully remodeled with granite counters, soft-close cabinets, and a spacious pantry. Enjoy modern amenities including newer Stainless Steel appliances, a tile backsplash, and an island that seamlessly connects to the living and dining areas. An additional corner bar/coffee/wine area enhances your entertaining and storage options. The home features a thoughtful split floor plan. The guest bath has been updated with a new vanity, new fixtures, and a newly tiled shower. The expansive master bedroom (19x13) boasts windows overlooking the pool area and a generous walk-in closet. The master bath has been newly upgraded with dual sinks, modern lighting fixtures, a brand-new shower with floating shelves and a bench seat, and a convenient cabana door leading to the pool area. Additional highlights include a new A/C system (2022), a new roof (2023), and fresh interior and exterior paint. The pool deck, which spans 64 feet across the back of the home, offers ample space for relaxation and entertainment. The pool has been resurfaced, and the enclosure was just installed in August 2024. The exterior features fresh mulch, mature, trimmed landscaping, and a sprinkler system. Located in a NON-flood zone and just off the lake, this home combines style, comfort, and practicality. New hurricane shutters just ordered. BONUS .................To VA buyers......this home has an assumable % rate of 2.65. Don’t miss out on this stunning property!
Source: STELLAR #c7497952
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #c7497952
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
MLS ID: #c7497952
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.