16664 Shell Bay Dr, Land O Lakes, FL 34638
2 beds · 2 baths · 1,405 sqft
ASSUMABLE FHA LOAN WITH A LOW INTEREST RATE (5.1%) • BEST PRICE/VALUE IN THE SUBDIVISION ( The newly released villas are smaller and more expensive!!) • This 2023 move-in ready, single-story villa with NO BACK neighbors feels just like a brand new home, nestled in "Tampa Bay's Newest Active Adult Lifestyle Community" - Angeline. • OVER $20,000 IN UPGRADES - Gutters with stainless steel leaf protection / Screened porch for bug-free relaxation / Reverse osmosis and water softener system for pure, clean water / Stylish backsplash in the kitchen and island / High-end fan in the living room for cool comfort, digital control panels for added convenience. • Two bedrooms, including a private owner's suite with an attached full bathroom and walk-in closet. An open floor plan showcases a stylish kitchen, dining room, and inviting family room, creating a perfect flow for everyday living. Glass sliders lead to a cozy covered and enclosed patio, perfect for your morning coffee or afternoon cocktails. • WELCOME TO ANGELINE: This vibrant 6,200+ acre master-planned community in Land O' Lakes, FL, offers new single-family homes and villas exclusively for active adults 55+. Residents enjoy a wealth of amenities and a focus on healthy living: Community farm, up to 100 miles of trails, 3,600 acres of green space, Pasco County park, and a LAGOON. Moffitt Cancer Center's new campus is right around the corner! • A City in the Making: Angeline is a groundbreaking community designed for a healthy and active lifestyle. See attached flyers for additional details. • You could qualify for a 2-1 buydown program: Reduce your interest! The cost of the payment reduction is paid by the lender so there is NO ADDED COST TO YOU!
Source: STELLAR #TB8310856
Financials
Source: STELLAR #TB8310856
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.