218 Wgto Tower Rd, Lake Alfred, FL 33850
3 beds · 3 baths · 2,090 sqft
Must see to believe all that this charming, updated, three bedroom, 2 1/2 bathroom, attached garage, pool home on a sprawling +/- acre lot zoned for horses. As you enter the house, you are welcomed by a cozy screened in front porch. Enjoy the view of a tranquil lake as you sip your morning coffee. From there, walk through the front door into the spacious Great Room featuring new luxury vinyl tile which continues throughout the home. The wood-burning fireplace with cedar wood mantle and masonry rock wall is a favorite spot for friends and family to gather. Vaulted ceilings adorned with decorative natural wood plank trusses and whitewashed plank walls, are among the additional stunning details in the Great Room. To the left of the Great Room sits a beautifully renovated Kitchen featuring quartz counters, stainless steel appliances, ceramic tile backsplash, and an oversized walk-in pantry. Off to the right of the Great Room is the hallway leading you to the Primary En Suite Bedroom and two Secondary Bedrooms with a shared bath. The highlights of the large Primary Bedroom are the crystal “fandelier”, (a chandelier with disguised ceiling fan), a well appointed walk in closet, and sliding glass doors that lead to the pool and lanai area. The Primary Bathroom has a large, glass enclosed, ceramic tile, walk-in shower plus an oversized vanity with sink and ample storage space. The Secondary Bedrooms each have a picture window with scenic views of the park like front yard. They share a large Bathroom with a shower/tub combo. A separate Laundry Room is located just off the Great Room. As you exit the living space through the sliding glass doors you’ll walk out onto the pool deck. The fully screened outdoor pool oasis and the lanai area with retention wall offers plenty of space for large parties or a quiet spot for solo relaxation as you soak up the sun. Conveniently, the pool has its own bathroom to keep wet swimmers from entering the home. Beyond the pool area, you will find the fenced backyard. The yard features a stable and storage shed. The gem of this property, however, is the unique, insulated, air conditioned, 2250 ft.² workshop. This space has a wood framed mezzanine, steel support beams, plumbing hook up, garage door, and concrete flooring. The owners have converted the workshop into a recreation area with a basketball court as well as an additional party/entertainment space. This property also includes a whole house plus workshop generator, Kinetco Water Filtration System to optimize the quality well water. Looking for low cost living? Since there are no city utilities to pay and no HOA look no further, this is the home for you! This property could also be utilized as an investment property, or your very own compound to live, work, and play! The property is close to I4 and conveniently located near OIA, golfing and Central Florida attractions. Call to schedule your private showing. Mortgage is assumable.
Source: STELLAR #o6231398
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #o6231398
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #o6231398
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.