1503 Arrowhead Dr, Sun City Center, FL 33573
3 beds · 2 baths · 1,663 sqft
Discover this beautifully updated 3-bedroom, 2-bathroom home in the sought-after 55+ community of Sun City Center! This move-in-ready gem features a brand-new roof (2023) and AC (2023), along with an updated electric panel and plumbing for added peace of mind. The modern double-pane windows enhance energy efficiency, while the home is designed for both style and convenience with low-maintenance laminate and tile flooring throughout. The updated kitchen boasts granite countertops and stylish cabinetry, perfect for any home chef. Additional upgrades include the removal of outdated popcorn ceilings and a fresh exterior paint job (2023). Enjoy the convenience of a water softener, an inside laundry room complete with a washer and dryer, and a 1-car garage. Outdoor living is a delight with a screened front porch and a fenced backyard for added privacy. As a resident of Sun City Center, you’ll have access to an incredible array of amenities, including indoor and outdoor pools, a state-of-the-art fitness center, pickleball and tennis courts, shuffleboard, athletic fields, and more. With over 200 clubs and activities, there's always something to enjoy in this vibrant, golf-cart-friendly community. Don’t miss the chance to call this fantastic home yours!
Source: STELLAR #TB8362591
Financials
Source: Public records
Source: STELLAR #TB8362591
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.
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.
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.