2216 LEE LN, Sarasota, FL 34231
Just Reduced and easy to show!! This motivated seller is considering all offers on this charming mid-century modern home near Siesta Key. This three-bedroom, two-bath split floor plan embodies a blend of style and functionality for your needs. This home offers two flex spaces for a possible home office, playroom, or extra room to maximize your entertaining and casual living space. Each bedroom is exceptionally spacious, and the primary bedroom includes a large walk-in closet that offers endless possibilities to maximize your space. Tucked on a quiet south Sarasota street just east of US-41, you have tons of privacy and no HOA, so bring your toys, camper, or projects home! This home provides stunning natural lighting and opens to a spacious fenced backyard with outdoor storage. It also has ample space to create tropical outdoor living spaces to fit your needs. This home falls within the highly sought-after schools, which includes Riverview High School. This home's prime location is an effortless drive to Siesta Key and an easy commute from I-75. Centrally located with some of the most high-end dining and shopping areas in Sarasota and Lakewood Ranch. This well-maintained home has original terrazzo flooring in the main living area, a regularly serviced A/C unit (2017), re-piped plumbing, a newer roof (2016), newer stainless steel kitchen appliances such as the oven and microwaved installed in 2023, and updated bathroom vanities. This home is well situated above sea level, so this home stays high and dry during the rainy season and resides on the same power grid as an emergency shelter. This motivated seller has your best interest in mind, and it includes transparent custom hurricane shutters on main home windows and provides a one-year home warranty. If you are looking for a charming Sarasota home, this home won't disappoint. A true Sarasota treasure, this home is easy to show, so schedule your private showing today and bring your offers!
You may be able to put down less than the total down payment amount of $72,753 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: #a4618997
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.