1413 SW 14th Ter, Cape Coral, FL 33991
3 beds · 2 baths · 1,260 sqft
ASSUMABLE MORTGAGE - Charming 3-Bedroom, 2-Bath Home in the highly sought-after SW Cape Coral area. City water and sewer with all assessments paid. Luxury Vinyl plank throughout the main area and tile in the bathrooms. No carpet in the home.Large kitchen with stainless steel appliances. Plenty of cabinet space including the coffee bar inside the kitchen. Beautiful French doors from the kitchen onto the oversized covered patio that runs the entire length of the home. A true entertainer’s paradise! Whether hosting a barbecue, enjoying your morning coffee, or unwinding after a long day, this outdoor space has everything you need to soak up the Florida lifestyle. The Hot tub is only 1 year old and will stay for the new owner. Vinyl fence for privacy. Alarm system is currently in place. New Shingle roof in 2022, plumbing repipe and new hot water heater in 2020. Situated near Trafalgar and Chiquita, this home offers easy access to schools, parks, dining, and shopping, with Fort Myers and Sanibel Island renowned beaches just a short drive away. Don’t miss this opportunity to own a slice of paradise (Assumable FHA fixed-rate mortgage, Buyer must qualify)
Source: NABOR #225003572
Financials
Source: NABOR #225003572
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.