221 Lake Ned Rd, Winter Haven, FL 33884
2 beds · 2 baths · 1,488 sqft
Charming Fixer-Upper with Incredible Potential - Prime Lakefront Location! Unlock the full potential of this diamond-in-the-rough! Situated in a highly sought-after location, this home is directly across the street from a serene lake, offering stunning views and endless recreational opportunities. With a public park and boat ramp just steps away, you'll have easy access to fishing, boating, and outdoor fun. This home is perfect for those with a vision. Whether you're looking to renovate and create your dream lakeside retreat or flip it for profit, the possibilities are endless. The property features 2 bedrooms, 2 bathrooms, large living room and "Florida Room", providing ample space to work with. Bring your creativity and skills to restore this home to its former glory and take advantage of the location's unbeatable charm. House is being sold AS-IS. The surrounding neighborhood offers a peaceful, community-oriented atmosphere, making this property ideal for both year-round living and seasonal enjoyment. The lakefront lifestyle you've been dreaming of is within reach – don’t miss out on this opportunity to transform a fixer-upper into a masterpiece!
Source: STELLAR #p4932893
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #p4932893
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: #p4932893
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.