1231 NW 15TH AVE, Cape Coral, FL 33993
This centrally located single-family home is a relatively new construction, built in 2020. For buyers looking for a spacious single-family home floor plan, this home is a MUST-SEE! This is a DR Horton Eastham Model which already sets this home apart from the rest due to the appealing Bay window. At the same time, the builder, DR. Horton, has a Limited Warranty which is automatically transferred to subsequent owners during the ten-year term. The Eastham home’s unique build lends versatility to a homeowner to set up a dining area or a home office. The one-story layout has a roomy kitchen with a window that overlooks the spacious great room, dining room, and covered lanai. The kitchen offers plenty of cabinets and counter space that is surrounded by bay windows that allow plenty of natural light. An additional window in your kitchen with a Breakfast Bar is ideal for entertaining guests and experiencing that “Cafecito” window feel. A bit shy of 1,800 square feet, the home features a master bedroom in the back of the home for privacy, along with its master bathroom with double vanity, and a walk-in closet. Two other guest bedrooms share a second bathroom. The laundry room is located at the front of the home. There are also extra closets for additional storage. A garage-to-bedroom conversion under air has added living area to this home. This additional bedroom has its own private entrance, tiled floor, kitchen, walk-in shower and bathroom, and even a walk-in closet. Outstanding home features: Remaining 10-year Limited Warranty, bay windows, kitchen with backsplash, wood cabinets, stainless steel appliances, tile floors throughout the main living areas, and carpet in the bedrooms. Additionally, window treatment throughout the home, paver driveway, and a covered lanai with pavers. A sprinkler system to maintain the coveted Florida green landscape throughout the year in this oversized 0.25-acre corner lot home. Great as a starter home or for those looking to relocate to South Florida. Plenty of room to store your boat, RV, or Jet Ski. The septic tank was emptied last month. The home is not in a flood zone, it has no homeowner’s association and is on well water, three fewer bills to pay per month, and savings all year round! This is an ideal home for first-time home buyers, big families, relocation, or a savvy investor looking to leverage their monthly expenses.
You may be able to put down less than the total down payment amount of $209,587 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: #224023726