16202 Indian Mound Rd, Tampa, FL 33618
4 beds · 3 baths · 1,878 sqft sqft
Location, Location, Location! This meticulously maintained 4-bedroom, 3-bathroom home with an 800-square-foot mother-in-law suite is in the highly desirable Carrollwood area of the beautiful Estates of Lake Magdalene. Known for its scenic beauty and convenient access to all Tampa offers, Estates is a sought-after community that combines tranquility with convenience. This neighborhood is known for its mature trees and lush landscapes, offering a peaceful atmosphere while still being close to shopping, dining, and entertainment. Plus, there’s no need to worry about flood insurance, CDD, or HOA fees! Sitting on a double lot, this property provides ample space and endless possibilities. The owner already has plans for a second home build, making this an incredible opportunity for those looking to expand or invest. Imagine the potential—whether you’re thinking of creating a family compound, generating rental income, or building a custom workshop, this lot has the space to make your dreams come true. Step into the backyard, and you’ll be greeted by an oversized pool surrounded by beautiful new pavers that add a touch of elegance and charm to the outdoor space. The covered seating area is perfect for relaxing and keeping cool from the Florida sun while still enjoying the outdoors. Whether you’re hosting a summer barbecue, lounging by the pool, or simply enjoying the peace and quiet of your private oasis, this backyard is designed for relaxation and entertainment. Inside the home, you’ll find an open great room seamlessly flowing into a bright kitchen. The kitchen is the heart of the home, featuring an oversized center island perfect for meal prep, casual dining, or gathering with family and friends. The wood-burning fireplace in the great room adds warmth and character, making it a cozy spot for relaxing on cooler evenings. The laundry room off the kitchen is a generous 11x9, providing plenty of space for all your storage needs. Whether you need extra room for pantry items, cleaning supplies, or laundry essentials, this room covers you. One of the standout features of this home is the nearly 800-square-foot mother-in-law suite. Complete with its full bath and laundry room, this suite offers privacy and convenience for guests or extended family members. It’s also an excellent option for those looking for a home office, studio, or rental income potential. The suite’s separate entrance ensures privacy while connecting to the main house. Living in Estates means you’re part of a well-established community with a friendly atmosphere and a strong pride in homeownership. The neighborhood is known for its beautiful, mature trees and landscaping, creating a serene environment perfect for walking, jogging, or simply enjoying the outdoors. Plus, the lack of flood insurance requirements, CDD, and HOA fees means more savings for you! Conveniently located in the heart of Carrollwood, this home is just minutes from top-rated schools, shopping centers, dining options, and recreational facilities. You’ll have easy access to major highways, making commuting a breeze and putting all of Tampa’s attractions within reach. Don’t miss your chance to own this incredible property in one of Tampa’s most desirable neighborhoods. Whether you’re looking for a spacious family home, a place to entertain, or a smart investment, this home has it all. Schedule your private showing today and experience the charm and convenience of living in Estates!
Source: STELLAR #u8252153
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #u8252153
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #u8252153
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.