1248 S Lake Starr Blvd, Lake Wales, FL 33898
3 beds · 2 baths · 2,207 sqft
Welcome to your 3-bedroom, 2-bathroom slice of paradise, nestled on a private, 0.88-acre lot. This stunning home offers views of Lake Starr and the iconic Bok Tower! Perfect for entertaining, the property boasts a newly finished covered deck and an expansive, screened-in pool area, plus a fully fenced backyard—ideal for enjoying the outdoors in comfort and style. There is also an enclosed patio that has been converted into a secondary kitchen area. Inside the home you will notice the beautiful engineered hardwood floors throughout most of the living spaces, while the bedrooms feature plush new carpeting. You will also find a tastefully renovated master bathroom featuring a luxurious soaking tub, offering the ultimate relaxation. The living room boasts a spacious wood-burning fireplace that can easily be converted to gas if desired! Additional updates include new double-pane windows that enhance energy efficiency, while the AC unit is less than 1 year old, ensuring year-round comfort. The hot water heater is just 5 years old, and there is a full yard irrigation system. For those who love to travel, an RV storage area ensures that your vehicle is always ready for your next adventure. This home is truly a retreat that combines elegance, comfort, and privacy in a serene setting. Call today to schedule your private showing!
Source: STELLAR #l4949054
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #l4949054
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: #l4949054
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.