1313 SE 40th St, Cape Coral, FL 33904
3 beds · 2 baths · 1,429 sqft
Whether you're looking for a brilliant investment or a cozy place to call home, this beautiful property has it all. Tucked away in a quiet neighborhood just minutes from Downtown Cape Coral, you can have the best of both worlds. Enjoy peaceful Florida living the way it should be, without stress. NEW ROOF 2022 and NEW A/C UNIT IN 2018! Water and Sewer is in and PAID IN FULL! Located in a great neighborhood within one of Cape Coral's best school districts and OUTSIDE of any flood zones. Save on insurance as flood insurance is NOT required. Home has done tremendously well through each of the recent storms! An open concept and HUGE FULLY SCREENED IN LANAI make entertaining easy. Spacious bedrooms and MASSIVE CLOSETS help this house stand out above the rest. Fully fenced in yard for the kids or the fur babies, with several fruit trees to enjoy during the seasons. Front entry is screened in, allowing you to enjoy the perfect Florida winter weather and cross breezes from the screened lanai. Stop waiting for those interest rates to drop and buy now with this homes assumable mortgage. Get a lower rate than anyone else NOW! Take advantage of this move-in ready homes spectacular features and make it yours today.
Source: NABOR #224087821
Financials
Source: NABOR #224087821
Source: Public records
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%. 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.
Other resourcesWhat 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.