1896 ELOISE LOOP RD, Winter Haven, FL 33884
Price Reposition 9/12/24~Welcome to the Historical Pettigrew Home. Step back in time with this charming 1925 wood frame construction home, nestled on a sprawling 2.17-acre lot in Winter Haven, Florida, and conveniently located close to Legoland. This unique property offers the perfect blend of historic charm and modern convenience, featuring 4 spacious bedrooms (please note the second primary room is not shown in pictures or video- due to privacy of elder family member being cared for), den, office and 2 bathrooms. One important highlight is a second primary bedroom located on the second floor, which boasts a private door leading directly to the secondary bathroom, providing an extra layer of comfort and privacy. Additionally, there is a versatile extra room currently being used as a 5th bedroom, offering plenty of flexibility to suit your needs. The home exudes warmth and character, with inside laundry, delightful southern mansion style porches perfect for relaxing and providing serene views of the expansive property. A large two-car garage provides ample space for storage, while the bonus She/He shed offers a cozy retreat for guests or a private workspace. With no HOA restrictions, there's plenty of room to store your toys, and the vast acreage provides the ideal canvas for building a bonus workshop or other outdoor amenities. This gem is connected to city water but offers a well on the property for irrigation needs. This is a rare find in Winter Haven. Country living with all the charm and character of a bygone era, yet close to modern conveniences, including the excitement of Legoland. Don't miss the opportunity to make this historic gem your own!
You may be able to put down less than the total down payment amount of $199,558 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #l4946840