2598 Margaret Ln, North Port, FL 34286
3 beds · 2 baths · 1,505 sqft
PRICE REDUCED. This charming 3 bedroom, 2 bath home is a cozy 1505 square feet featuring a split and modern open floor plan. The master bedroom is spacious with his and hers closets and an ensuite bathroom. The kitchen has an adjoining breakfast nook/bar area and is one large space that opens into the living room creating the perfect setting for entertaining guests or simply spending time with family. The family room is a pleasant naturally lit space that can be multifunctional as an office, workout room, playroom, or a relaxing library/reading room. Interior architecture includes arched entryways’, décor shelves, spacious pantry, interior laundry, and cathedral ceilings. This home has an attached 2 car garage with storage shelving. The back yard has a patio and a 10X10 shed that you are welcome to use for additional storage space. The best feature of this home is the great location with the bonus of a quiet neighborhood with minimal traffic. You will be a few short miles away from the infamous warm mineral springs aka “fountain of youth” and a short car ride from the beautiful beaches of Englewood, Venice, and Sarasota. Seller is licensed real estate agent!
Source: STELLAR #a4629175
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #a4629175
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: #a4629175
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.