2406 ARBOR WIND DR, Lutz, FL 33558
Everything is like new in this well-maintained home located in Lutz, Florida.***VA ASSUMABLE MORTGAGE OF $320,000 AT 2.5% INTEREST RATE!!*** Built in 2021, this 1,932 square foot residence boasts modern features and upgrades, including solar panels installed in 2022. As you step inside, you'll appreciate the spaciousness and functionality of the layout. The home offers 3 bedrooms, with the added flexibility of a flex room or den that can easily serve as a 4th bedroom, and 2 bathrooms. The 2-car garage provides convenience and storage space. Inside, vaulted ceilings and recessed lights create an inviting atmosphere, complementing the open floor plan. The heart of the home is the kitchen, featuring tile flooring, a modern aesthetic with backsplash, 42" soft-close cabinets, stainless steel appliances, a generously-sized pantry, granite countertops, and a large island perfect for quick meals or food preparation. The living room is spacious and features tile flooring, seamlessly connecting to the outdoor area through 3-panel sliding patio doors. The primary bedroom is a retreat, offering carpet flooring, an ensuite bath with a walk-in shower, dual vanity, separate toilet, and two closets for ample storage. Additional updates include epoxy floors in the garage, a sprinkler system around the house, and a completely fenced backyard with lush St. Augustine green grass, providing plenty of space for outdoor activities or relaxation. Located in the gated community of Parkview at Long Lake Ranch, residents enjoy access to playgrounds, a dog park, pool, and other amenities, making this home an ideal blend of comfort, style, and convenience. Call now and schedule your viewing today! **Buyer must agree to assume seller's solar panel contract at only 1.4% interest- 79k owed. Solar payments are presently $326 with only a $40 monthly electric bill** Assume this home’s 2.5% mortgage with an approximate $320k balance, save thousands, and close within 45 days when you work with Roam. Inquire with listing agent for more details.
You may be able to put down less than the total down payment amount of $184,814 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: #t3515699
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.