2216 Lee Ln, Sarasota, FL 34231
3 beds · 2 baths · 1,660 sqft
Incredible opportunity awaits! Seller's Credit up to $2,500 AND 1-year Home Warranty Provided. This home has NO HOA or deed restrictions, this charming mid-century modern home is a spacious three bedroom, two-bath split floor plan embodies a blend of style and functionality for your needs. Looking for a home that is safe and reliable? Look no further than this this well-maintained home has original terrazzo flooring in the main living area, a regularly serviced A/C unit (2016), re-piped plumbing (2016), a newer roof (2016), newer stainless steel kitchen appliances such as the oven and microwave 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 and hurricane shutters are included. 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 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 and the SRQ/ Bradenton Int'l airport. Centrally located with some of the most high-end dining and shopping areas in Sarasota and Lakewood Ranch. 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!
Source: STELLAR #a4618997
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #a4618997
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: #a4618997
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.