1702 Rice Ter, North Port, FL 34286
3 beds · 2 baths · 1,211 sqft
This paid-off solar 3-bedroom, 2-bathroom pool home in North Port blends modern efficiency with timeless style—offering comfort, sustainability, and serious savings all in one package. With an average electric bill of just $40/month—even with a pool—you’ll enjoy the perks of Florida living without the high utility costs. From the moment you arrive, the home’s clean architectural lines and sleek, low-profile design make a lasting impression. Surrounded by mature greenery and just minutes from shopping and Highway 41, this tranquil setting delivers both privacy and convenience in equal measure. Step inside to an open, airy living space filled with natural light. Soft gray walls and rich wood floors set a calming tone, while a modern ceiling fan and French doors create seamless indoor-outdoor flow. The kitchen is a standout—blending farmhouse charm with contemporary style. White cabinetry, warm wood accents, gray countertops, and a cozy breakfast bar make it both beautiful and functional. All bedrooms feature fresh flooring and a peaceful vibe, perfect for unwinding. The spacious primary suite offers comfort and plenty of room to relax at the end of the day. Step outside to the home’s crown jewel: a screened-in pool—ideal for lounging, entertaining, or a refreshing dip anytime. A new pool pump adds peace of mind. Both bathrooms feature updated finishes that complement the home’s modern yet warm aesthetic. With a Trane AC system and top-of-the-line appliances—all updated in 2024—this home is as move-in ready as it is beautiful. Located in a quiet neighborhood yet close to everything, this North Port gem checks every box. Schedule your private showing today and see it for yourself!
Source: STELLAR #C7505848
Financials
Source: STELLAR #C7505848
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.