1604 3RD AVE W, Palmetto, FL 34221
PRICE REDUCED! Discover this charming 1950s Palmetto home. Nestled on nearly a quarter-acre lot, this property offers 4 bedrooms, 2 bathroom, and 1,149 SqFt of living space, making it an ideal choice for families or investors. Enjoy a comfortable layout featuring a Florida sunroom, perfect for relaxing or entertaining. Benefit from a 2017 roof and a 2021 AC, ensuring comfort and reliability. An above-ground pool offers a refreshing escape during hot Florida days. With no HOA, CDD, or Deed Restrictions, you can bring your RV, boat, and all your toys without hassle. Centrally located with easy access to US-41 and US-301, this home is just a 25-minute drive to the stunning beaches of Anna Maria Island and the vibrant Downtown St. Petersburg area. This home does need some TLC, making it a fantastic opportunity for those looking to add personal touches or for investors seeking a valuable project. Don't miss your chance to own this unique property with endless possibilities. Schedule a showing today and envision the potential of making this house your home.
You may be able to put down less than the total down payment amount of $129,981 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: #a4615177