Limited time: Pay only $1,000 to assume a low rate mortgage when you sign a purchase contract between 12/11/24 and 1/10/25 *
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$385,000

123 SW 68th Ave, Pembroke Pines, FL 33023

3 beds · 2 baths · 885 sqft

PRIME INVESTMENT OPPORTUNITY - HOUSE IS RENTED WITH STABLE INCOME TREE AND TWO BATHDROOM Fully renovated, situated in the heart of PEMBROKE PINESS, proximity to work class dinning, shopping and entertainment,Few minutes away from the beach. Turnkey Investment - Property is already rented with reliable tenanst under one year contract Highlights: Fully Modern NOT Maintenance High Rental Demand (SouthINVESTORS GREAT OPPORTUNITY TO OWN THIS PR0PERTY ALREADY RENT FOR $2,900 AT MONTH, THE HOUSE IT IS 1400 SQUARE FOOT LIVING. ORIGUINAL HOUSE WAS 2 BEDROOM 1 BATHROOM.KNOW IT IS 3/2 AND THEY HAVE PERMIT TO LEGALIZED THE BEDROOM AND THE BATHROOM AND MAKE THE KITCHEN BIGER.7,000 LOT SIZE

Estimated
Seller's interest rate
3.87%
7%
Estimated
Principal & interest
$306/mo.
$384
You may also save up to $15,584 in total interest paid.
Listing price
$385,000
Your cash down payment
$339,499
Seller’s estimated current equity is $339,499
To assume this mortgage you must cover the seller’s equity by using your cash or by combining your cash with a 2nd mortgage.
Estimated $306 monthly payment
Financed
$45,500
Assumed mortgage 3.87% • Seller's rate
$45,500
2nd mortgage 9.25% • No prepay penalty
$0

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.
45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.
Location
Details
Home
Size
885 sqft
Price per sq ft
$0
Year built
1965
Type
Single Family Residence

Source: MIAMIRE #a11701632

Loan
Remaining term
16 years, 10 months
Rate
3.87%
Monthly P&I
$306
Remaining loan balance
$45,500

Source: Public records

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?

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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?

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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?

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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?

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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?

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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.

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Resources
Last updated: Dec 22, 2024 10:56 am
Listing agent: Luz Carmona (954) 274-2965
Listing provided courtesy of: Canvas Real Estate (754) 704-4242
Details provided by MIAMIRE and may not match the public record.
MLS ID: #a11701632
Information deemed reliable but not guaranteed. Information is provided, in part, by Greater Miami MLS. This information being provided is for consumer's personal, non-commercial use and may not be used for any other purpose other than to identify prospective properties consumers may be interested in purchasing.
This information being provided is for consumer's personal, non-commercial use and may not be used for any other purpose other than to identify prospective properties consumers may be interested in purchasing.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 30 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
Estimated
Seller's interest rate
3.87%
7%
Estimated
Principal & interest
$306/mo.
$384
You may also save up to $15,584 in total interest paid.
Listing price
$385,000
Your cash down payment
$339,499
Seller’s estimated current equity is $339,499
To assume this mortgage you must cover the seller’s equity by using your cash or by combining your cash with a 2nd mortgage.
Estimated $306 monthly payment
Financed
$45,500
Assumed mortgage 3.87% • Seller's rate
$45,500
2nd mortgage 9.25% • No prepay penalty
$0

Interest rate and monthly payment estimated based on public records.

$306/mo
View details