200 Riverview Dr, Labelle, FL 33935
3 beds · 2 baths · 2,540 sqft
Acreage in the heart of Labelle with an additional 1-1 Detached Cottage (rental income)! Almost two acres, flowing with beautiful historical Oaks , landscaping, fruit trees and so much more. This one of a kind 3-2 plus Den with 2540 square ft is a must see! This unique Oasis is overflowing with potential for so many awesome possibilities. Once you enter this spacious home with vaulted ceilings you will be taken away by the brick wood burning fire place! Next you can head outdoors to the spacious screened in lanai great for entertaining or sipping on your morning coffee! The small cottage could use a little TLC but will be ideal for extra income potential, family, or guest. It includes its own private driveway for entry and a propane tank for those cooks that love a gas stove! Irrigation runs off of a well, which allows for the beautiful trees and plants to stay in great shape. This property is conveniently located on the corner of two paved streets within walking distance to restaurants, coffee shops, schools, church, library, post office, the Caloosahatchee river and so much more. Don't hesitate make your appointment today!
Source: FORTMYERS #225025746
Financials
Source: Public records
Source: FORTMYERS #225025746
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.
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 “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.