1500 PADDOCK DR, Plant City, FL 33566
Nestled within the amenity-filled, tree-lined streets of the Paddocks at Walden Lake, this 4 bedroom, 2 bath, 2 car garage home is turn-key and has been beautifully updated. Soaring vaulted ceilings, flexible living spaces, a modern light and bright kitchen, and luxury vinyl flooring highlight the 2,044 sq ft residence. The formal living room sits across from the formal dining room, which provides easy access to the kitchen for an ideal dining experience. Overlooking the vaulted ceiling 15x22 family room, the chef's kitchen features ample cabinet storage, a 4-piece appliance package, stone countertops, pendant lighting, and breakfast bar seating. The primary suite is split away from the other bedrooms for privacy and offers a tranquil ensuite bathroom with a soaking tub and walk-in shower. The second bedroom is located near the front of the home and could also be used as an office! Bedrooms 3 and 4 are secluded in a guest wing adjacent to the house's second full bathroom. All four bedrooms are generously sized and have ceiling fans and built-in closets. Step through the French doors out to the roomy, lush, privacy-fenced yard and appreciate the outdoors from the open wooden deck. Walden Lake is a highly desirable community, centrally located in Plant City, close to I-4 for a quick drive into Tampa. Residents here enjoy access to multiple amenities, including a fishing dock, playground, dog park, sports courts, community center, walking trails and more! Call today for more information about this lovely home and community.
You may be able to put down less than the total down payment amount of $183,907 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: #t3544773