1553 Wright Dr, Lakeland, FL 33805
4 beds · 4 baths · 2,836 sqft
Built in 2018, this move-in ready home is spacious and versatile. This 3-bedroom, 3-bath home (with den) in Lakeland offers functionality and comfort, with the added benefit of a detached mother-in-law suite/studio apartment--providing a total of 4 bedrooms and 4 bathrooms. Ideal for multi-generational living, guest bungalow, or a private home office, the suite includes its own entrance, kitchenette and full bathroom for complete independence. Through the large double door, spacious entry of the main home, you will find an open floor plan that connects the living, dining, and kitchen areas, creating a welcoming space for gatherings. The oversized kitchen is designed for everyday life and entertaining featuring ample counter space, solid wood cabinetry, durable granite countertops, stainless steel appliances, and a large island. A bonus den accessible from the living room or primary bedroom provides additional living space. The primary bedroom suite includes large his and her closets and a spa like master bath. The luxurious master bath features custom tile, double sinks, oversized custom walk-in shower and garden tub. You will love the large indoor laundry and custom features like plantation shutters, tray ceilings, and wonderful layout. The outdoor space extends the living area, offering a private patio ideal for relaxing or entertaining. A custom covered gazebo provides a comfortable outdoor living space. In the front yard you will find well maintained landscaping and unique to this property is a concrete slab allowing for easy access and maintenance from the front all the way around the sides and back perimeter of the property. The backyard is surrounded by vinyl privacy fence. Located near shopping centers, restaurants, parks, and major roadways, this home provides both convenience and accessibility. Whether you're looking for extra space for family, room to entertain, or a comfortable home in a prime location, this property checks all the boxes. Schedule your showing today!
Source: STELLAR #L4947065
Financials
Source: STELLAR #L4947065
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.
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