1325 JAMES AVE S, Saint Petersburg, FL 33705
Welcome to the Palmetto III, a beautifully designed home featuring an open floor plan, 3 bedrooms, and 2 bathrooms. This block-construction gem is equipped with hurricane-rated impact windows and 9 doors, providing you with a secure and inviting urban retreat. Located just a few miles from the vibrant downtown St. Petersburg, this property is nestled in the high and dry 13th Street Heights neighborhood, which lies within an X flood zone. This emerging area is conveniently close to the St. Petersburg Country Club, diverse shopping options on 34th St S, and the charming Gulfport neighborhood. Major League Baseball’s Rays play just 10 minutes away at Tropicana Field, and you’re also near the lively Central Avenue corridor, Edge District, and Arts & Warehouse District, offering an array of dining, shopping, parks, dog-friendly bars, coffee shops, and over 15 local breweries. Inside, you'll immediately notice the spacious 10-foot ceilings and abundant natural light. The generous entertainment areas lead to a modern gourmet kitchen, complete with stone countertops and stainless-steel appliances. The home is energy-efficient, featuring LED lighting and high-quality insulation, making it economical to maintain. Step outside to enjoy a covered lanai and a convenient parking pad for off-street parking. With top-of-the-line materials, including a 30-year dimensional shingle roof, you can also benefit from lower insurance costs. Welcome home to a blend of modern comfort and urban convenience!
You may be able to put down less than the total down payment amount of $106,382 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: #u8254276
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.