17654 Vellum Cir, Punta Gorda, FL 33955
4 beds · 2 baths · 2,221 sqft
NO FLOOD INSURANCE REQUIRED! This spacious four-bedroom home in Burnt Store Lakes offers exceptional value, combining a prime location with impressive updates and features. Thoughtfully maintained and fully move-in ready, this property has everything you’ve been searching for. A brand-new metal roof (2023) and a screened front lanai invite you to relax and enjoy the stunning sunsets, while natural light fills every corner of this beautifully updated home. Inside, you’ll find tiled flooring throughout, an upgraded kitchen with newer appliances, and modernized bathrooms. The outdoor space is perfect for entertaining, featuring a fully fenced backyard with plenty of room for pets, a charming gazebo, and a deck area surrounding the sparkling pool. Recent upgrades include a new pool pump, a pool heater, and a new A/C system (2022). Plus, the irrigation system runs on a private well with a brand-new pump, offering significant savings on water costs. Burnt Store Lakes is a desirable, amenity-rich community with walking trails, a canoe/kayak launch, a park with a large pavilion, and regular community events—all included with low HOA fees. Conveniently located, this home provides easy access to Cape Coral and Downtown Punta Gorda. It’s also moments from Linkside Café and Burnt Store Country Club, which features a public 27-hole executive golf course. Just minutes away, you’ll find the Gulf Coast's largest deep-water marina, fishing charters, Cass Cay Restaurant, and more. This home offers unbeatable value, a fantastic location, and peace of mind with no flood insurance required. Don’t let this opportunity pass you by!
Source: STELLAR #C7503935
Financials
Source: STELLAR #C7503935
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.