13020 Lake Meadow Dr, Fort Myers, FL 33913
4 beds · 3 baths · 2,681 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Handyman Special – Incredible Opportunity for the Right Buyer! Located in a beautifully gated community in Silverlakes of Gateway. This spacious two-story home boasts 4 bedrooms, 2.5 bathrooms, and a sparkling pool, providing plenty of room for comfortable living and entertaining. This property is in need of some TLC making it the perfect project for an investor or DIY enthusiast looking to make it their own. This home is NOT in a flood zone, offers a fantastic value with LOW HOA fees and a neighborhood full of amenities. Offering a community fitness center, six lighted regulation size soccer fields, an Olympic size pool, kiddie pool, playground, basketball courts, and a dog park. Gateway is close to FGCU, Interstate 75, fine dining, shopping, medical facilities and the beaches of Fort Myers Beach and Sanibel. It is minutes from the Boston Red Sox spring training facility and 15 minutes from Southwest Florida International Airport. Inside, you'll find tile flooring throughout the downstairs area. The generous family and dining rooms feature sliding glass doors that open to the screened lanai and pool area, kitchenette and grill, perfect for outdoor living. A convenient half-bathroom is also located on the first floor, along with the washer and dryer. Upstairs, all 4 bedrooms are located, including the expansive primary suite. The suite features a his, and hers walk-in closet, a double vanity sink, a jetted tub, and a separate shower, creating a relaxing retreat. This home has incredible potential and is waiting for the right buyer to bring it back to its full glory!
Source: FORTMYERS #225022439
All values shown are estimated costs / mo.
Source: Public records
Source: FORTMYERS #225022439
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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.
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 “Save search” 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.
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 620, 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.