2643 BISMARK WAY, Sarasota, FL 34231
One or more photo(s) has been virtually staged. Discover the epitome of Sarasota living in this stunning 3-bedroom, 2-bathroom home nestled in the beautiful Phillippi Gardens neighborhood. Enjoy the best of both worlds with top-rated schools, world-famous Siesta Key beaches just minutes away, and the excitement of the upcoming Benderson Development shopping center being built, 1 minute down the road. This meticulously maintained home boasts a spacious 9,000+ square foot lot, offering endless possibilities for outdoor entertaining. Bring your boat, RV and golf cart. The newly updated kitchen is a chef's dream, featuring custom cabinetry, a mesmerizing live-edge counter with under-counter lighting, and luxurious quartz countertops. Unwind in the Florida room or screened-in lanai, both offering potential expansion options, turning the Florida Room into a Master Bedroom. Relax in style with marble countertops in the bathrooms, custom designed closet space in bedrooms and a state-of-the-art 9-camera security system already installed for the entire home. The backyard oasis is perfect for creating your dream pool and outdoor living space. A versatile 20x30 outbuilding provides ample storage and potential for a home office or guest bedroom, 2/3 insulated. With recent upgrades like a new 2022 water heater, 2015 asphalt composite roof, HVAC 2020, fenced back yard, and small doggy door, this home is move-in ready. Don't miss this opportunity to experience the ultimate Sarasota lifestyle in one of the best neighborhoods and best school districts. Sellers are motivated, send your offers.
You may be able to put down less than the total down payment amount of $266,184 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: #a4619893