2806 SW 46th St, Cape Coral, FL 33914
3 beds · 2 baths · sqft
Priced to sell. Best deal in SW Cape Coral. If you can't see the value of a $410,000 pool home, in the best area of Cape Coral, with a new roof, with all assessments in and paid, and not in a flood zone, this may not be for you. We have it priced under market value to get it sold. Investors, the numbers are there. The home is move-in ready. But any investor who wants to modernize the home to make it look like all of the new construction you see, crunch the numbers. Similar homes (size, location, age, pool) have sold, and are listed, in the $550,000 range. Just look at the surrounding homes and neighborhood. Financing? Ask your lender to buy the rate down. You can get a payment with an interest rate in the 4% range. Seller will also consider Owner Financing for those who can't qualify for conventional financing. Deposit required, and the monthly payment would be less than local rents, and far less than current interest rates. Location, location, location. What a great price to move yourself into what is considered the elite area of Cape Coral. Smart Buyers look for the least expensive home among expensive homes, and this is that opportunity. Surrounded by million dollar properties and Gulf access waterfront estates, this home has all of the key elements already in place, yet would be considered a perfect home to put your own DYI touch on to make it a fantastic long-term investment. This home is NOT in a flood zone. FEMA recently determined this property elevation to be outside of a flood zone. The owner has insurance, and is NOT required to carry a flood policy. That certainly makes it more affordable, yet again, is right smack in the middle of the prestigious SW section of beautiful Cape Coral, a Boater's paradise. The roof was installed May 2023. It has an open concept, with 3 bedrooms and a den. The den has french doors, and could easily serve as a 4th bedroom. Make no mistake, this home is in fact move-in ready, and will accept FHA, VA, and conventional financing Buyers, as well as cash. But one thing you simply can't duplicate is that location. This is on a low traffic road, in the high end area of SW Cape Coral, near Cape Harbour, Tarpon Point Marina, and several boat ramps. The backyard is fenced in, with many mature palm trees. The covered lanai is spacious, and the pool is ready for your 1st summer party. The garage door opener and components were just replaced.. Come take a look. Drive around the neighborhood, take it all in. You'll see why this is a well priced pool home, that will prove to be a great investment. We have lenders available that can offer financing options with interest rates up to 3% lower than the national average. Have your agent ask for details. These programs can be for FHA, VA, or conventional. Seller is motivated, and ready for your offer.
Source: FORTMYERS #224054416
Interest rate and monthly payment estimated based on public records.
Source: FORTMYERS #224054416
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: #224054416
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.