2643 Bismark Way, Sarasota, FL 34231
3 beds · 2 baths · 1,616 sqft
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. This property did not flood during either storm. Sellers are motivated, send your offers today.
Source: STELLAR #a4619893
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #a4619893
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: #a4619893
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.