18863 Roseate Dr, Lutz, FL 33558
4 beds · 4 baths · 3,337 sqft
Under contract-accepting backup offers. One or more photo(s) has been virtually staged. Luxurious two-story SMART HOME in the highly sought-after Long Lake Ranch community! This solar-powered home is perfectly positioned on a premium conservation and pond lot, offering breathtaking views and ultimate privacy. The true showstopper is the panoramic screened-in TRAVERTINE LANAI, featuring a luxurious saltwater spa and pool—an ideal space for relaxing or entertaining while enjoying the serene backdrop of nature. With no rear neighbors and sweeping views of the large pond and conservation area, the outdoor living space provides a peaceful, private retreat without the need for a fence. A charming brick paver porch and driveway lead to the grand foyer, where tray ceilings and an arched entry hall introduce the large study and designer porcelain flooring found throughout the main level. A full second bath is conveniently located near the study and next to the XL laundry room, which includes a wash sink and washer/dryer. The open floor plan and soaring ceilings seamlessly connect the spacious family room, formal dining area, and the gourmet kitchen—a chef’s dream! This upgraded culinary center includes double wall ovens, an induction cooktop, a built-in microwave, a see-through French door refrigerator, a center island, and quartz countertops throughout. The adjacent café provides the perfect casual dining spot with views of the lanai and conservation. The expanded owner’s retreat includes a private office & sitting area, two oversized walk-in closets with custom organizers, and a spa-like en-suite bath featuring dual quartz-topped vanities and a walk-in shower. Two additional bedrooms share a third full bath on the main floor. Upstairs, a gigantic open bonus room with a fourth full bath offers endless possibilities—ideal for a media room, game room, or guest suite. Additional features include a 3-car tandem garage, wood banister railings, and smart home technology for modern convenience. Enjoy all the benefits of outdoor living without the maintenance—the screened lanai and pool area provide a private oasis, perfect for year-round enjoyment! Opportunity is available for veteran who might want to assume VA low interest rate!
Source: STELLAR #TB8346404
Source: STELLAR #TB8346404
To qualify, you must meet the current FHA or VA 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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 “Save search” 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 620, 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.