2590 LAKE MANOR DR, Land O Lakes, FL 34639
PRICE IMPROVEMENT! LUXURIOUS LAKEFRONT POOL HOME WITH DOCK ON LAKE PADGETT! This absolutely breathtaking 5 bedroom, 4 bathroom home PLUS OFFICE/DEN and BONUS ROOM is located on an oversized (.52 acre) WATERFRONT LOT, within The Manors at Lake Padgett, an exclusive Gated Community, with only 8 homesites! Lake Padgett is a 180-acre lake suitable for skiing, fishing and boating! Step inside to the bright open floor plan boasting gorgeous features throughout including wide baseboards, neutral paint and ACACIA WOOD Floors in the living areas! The Open concept living room includes a custom built-in 80" electric fireplace with a hand-crafted mantle and built in surround sound for entertaining or a cozy evening at home. Look at the space in the Kitchen! It features an ELISE Induction Range, Custom Concrete and Glass Counter Tops, Stainless Steel Exhaust Hood, KITCHENAID Refrigerator, Solid Wood Cabinets, Glass and Ceramic Tiled Back Splash, Single Basin Granite Farm Sink, a walk in Pantry and a Huge Island. The oversized primary bedroom is located on the left side of the house with ensuite bath, double vanities and two walk in closets with built in shelving and private access to the lanai. The office/den is located just off of the primary bedroom. Three additional spacious bedrooms and two bathrooms are located on the opposite side of the home all on the first floor. The fourth oversized bedroom and bath are located on the second floor adjacent to the Bonus Room/Loft area perfect for guests! The rear patio has Gas piped to the Patio with a Custom Built outdoor kitchen, built in Grill, Outdoor Sink, Range hood, mounted TV and Fridge. Have a refreshing swim in the Salt Water Pool and Spa or relax by the Fire Pit! The entire rear yard is fenced with anodized aluminum. The private Dock has a boat lift, running water, and power alongside a tandem floating Jet Ski Dock (dock is shared with one neighbor). The Community also includes a private boat trailer parking lot. This home is definitely a MUST SEE and won’t last long!
You may be able to put down less than the total down payment amount of $293,225 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: #t3534460
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.