2806 SW 46TH ST, Cape Coral, FL 33914
Veterans, this home has a current VA assumable mortgage with an interest rate under 2.9% that you can assume. 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.
You may be able to put down less than the total down payment amount of $65,767 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: #224054416
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.