2555 Gabriel Rd, Fort Meade, FL 33841
3 beds · 2 baths · 1,916 sqft
Lake living at its finest! This 3 bedroom, 2 bath home encompasses nearly 2,000 square feet of living space, 1.5 acres of land and 163 feet of lake frontage. Nestled quietly on the shores of Lake Buffum, a 1,500 acre lake known for its world-class fishing, this estate will make the perfect weekend getaway or full-time residence for one very fortunate family. Enjoy beautiful sunsets from your own white sand beach or private covered dock. This estate is built to last, as it features concrete block construction, new roof (March 2023), protective seawall and many more features. The estate includes two detached workshops and a carport, perfect for storage of all of your lake toys. As you step inside, you’ll find the living room which offers a spacious and versatile area for relaxation and has a back door that opens to a charming outdoor garden, enclosed by a short pony wall. This garden area is a blank canvas, ready for the new owner’s personal touch to create their ideal outdoor retreat. Adjacent to the Living Room is the primary suite offering lake views and a walk-in closet. The two additional bedrooms are located on the opposite side of the home. The kitchen is equipped with white wood cabinets, SS appliances, and a breakfast bar, seamlessly connecting to the Dining Room and Sunroom which has sliding doors to a covered patio. The family room is a true showstopper, designed for relaxation and gathering. With walls of windows framing unparalleled lake views and a fireplace as the centerpiece, this space is perfect for enjoying sunsets or cozy evenings. Additionally, you’ll find an oversized pantry and enclosed patio with washer/dryer and tons of storage. Over 1.5 acres of land provides ample opportunity to expand your living quarters, nurture a garden and host wonderful get-togethers. The property features an abundance of fruit trees including mango, lychee nut, avocado, star fruit, orange, bananas, grapes, blueberries and coconut palms. This estate is also close to the cities of Fort Meade, Winter Haven, Lake Wales, Frostproof, Avon Park and Bartow. It is also only 1 hour away from Disney World and all of the other attractions in Orlando and Tampa FL. Such a unique property doesn’t come along very often, especially at this price point, so call now and secure a visit to this very special estate.
Source: STELLAR #o6259654
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #o6259654
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: #o6259654
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.