28607 TRANQUIL LAKE CIR, Wesley Chapel, FL 33543
***Price Improved - this is an amazing deal!!! Seller says to bring all offers*** Are you looking for a primary home that has an assumable FHA mortgage with a rate of 3.75%? If so, this is the home for you! Why wait for new construction when you can purchase this beautiful move-in ready home! Introducing a captivating 2-bedroom, 2.5-bath townhome with 1 car garage nestled in the vibrant heart of Wesley Chapel. This modern gem boasts the perfect blend of convenience and luxury living. Upon entering, you'll be greeted by a spacious downstairs gathering area, thoughtfully designed with an expansive great room, seamlessly flowing into an open kitchen and dining space. Ideal for hosting gatherings and entertaining friends and family, this area is illuminated by natural light, creating an inviting ambiance. A convenient half bath on the main floor adds to the functional layout. As you ascend to the upper level, you'll discover two remarkable suites, offering the utmost in comfort and privacy. The primary suite is a tranquil haven, featuring ample space, a well-appointed bathroom, and a walk-in closet. Adjacent is an en suite bedroom, providing an ideal retreat for guests or family members. UPDATE includes: New Water Heater June 2024 This townhome includes a one-car garage for secure parking and additional storage. This townhome also offers a courtyard leading out to the garage where you can expand your living space to the outdoors. Plus, the ample driveway parking ensures there's always room for guests. Located in the heart of Wesley Chapel, this property offers easy access to shopping, dining, entertainment, and top-rated schools. With its modern design, well-appointed living spaces, and prime location, this townhome is an exceptional opportunity for those seeking a contemporary and convenient lifestyle in a thriving community.
You may be able to put down less than the total down payment amount of $119,327 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: #t3474851
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.