161 Valencia Lakes Dr, Venice, FL 34292
3 beds · 2 baths · 1,740 sqft
This home is the only one currently for sale in this highly sought-after community of VALENCIA LAKES. Featuring 3 bedrooms, 2 bathrooms and 1740 square feet of living space, a split floor plan, and an open ambiance thanks to volume ceilings. Low HOA and no CDD fees. Recent upgrades: 2023 HVAC system, 2022 exterior repaint, and newer dishwasher and fridge. An open floor plan perfect for daily living and entertaining. One of the best features of this home is the Florida room with glassed-in windows and screens for dining and relaxation overlooking a serene garden. The master bedroom easily accommodates a king-sized bed, walk-in closet, and a master en-suite bathroom with dual sinks and a walk-in shower. Two additional spacious bedrooms, with one that can serve as a den. Tile flooring and luxury vinyl flooring throughout- NO CARPET. Sunny breakfast room adjoining the kitchen which also boasts a breakfast bar. No need for a private pool as Valencia Lakes offers a saltwater pool for recreation. The home is a 10-minute drive from historic downtown Venice, with easy access to restaurants, shopping, beaches, boating, shelling, and year-round activities.
Source: STELLAR #N6137311
Financials
Source: STELLAR #N6137311
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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