1216 SW 50TH ST, Cape Coral, FL 33914
Meticulous Executive Home offers Deep Water - Direct Access - No Bridges. Boating at its FINEST with a 68-foot dock, 28,000 LBS. electric lift, and a step-down loading area for small personal water crafts. This estate home measures approximately 4,000 SF, featuring soaring ceilings that extend above the 2nd floor with a beautiful cypress coffered ceiling and a 2-story wall of windows which provide views of the pool and waterfront. A chef's delight, the kitchen is complete with top-of-the-line appliances, gas cook-top, 2 ovens, endless counter space and a large island for prepping. The 2nd floor's luxurious Master Bedroom wing offers a sitting area, large custom closet, and a private balcony overlooking the pool and lanai offering "sweet dreams" and enchanting moonlight views. There are 2 additional guest bedroom in-suites with water front balcony and private access to the pool and dock. Enjoy sunset views from the expansive lanai with solar heated pool and a separate screened dining area with summer kitchen. Custom built in wood cabinetry, "hurricane safe" concrete block room, granite counters, custom window treatments, are just some of the outstanding features found in this home. Location is Everything!
You may be able to put down less than the total down payment amount of $742,060 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: #224049111
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.