3034 Stowe Ter, North Port, FL 34286
3 beds · 2 baths · 1,850 sqft
3034 Stowe Terrace is a charming 3-bedroom, 2-bathroom pool home located in North Port, Florida, conveniently close to I-75 and all local amenities. With approximately 1,850 sq. ft. of living space, including a converted garage that can easily be restored to a two-car garage, this home offers both comfort and versatility. It sits on three sequential lots, totaling just over 0.75 acres, including a wooded lot to the right of the house. The backyard is fully fenced as of 2022, providing privacy and security. The property boasts a massive 40x45 metal workshop equipped with a car lift and fully concrete interior flooring, along with extensive concrete driveway space to accommodate multiple vehicles, RVs, or boats. Recent updates include a resurfaced pool (2020), a new AC unit (2020), and a roof replacement (December 2022). The septic tank has been recently serviced, and the two-year-old well pump supplies water to both the home and the rear irrigation system. Inside, the split floor plan creates an inviting flow between the living, dining, and kitchen areas, making it ideal for entertaining and daily life. The updated kitchen features modern appliances, ample cabinetry, and a breakfast bar for casual meals. The master suite provides a private retreat with its own en-suite bathroom, while large windows throughout the home fill the space with natural light. Located in a vibrant North Port community known for its welcoming atmosphere and proximity to Florida’s Gulf Coast beaches, this home is perfect for a permanent residence, vacation getaway, or anyone seeking a relaxed Florida lifestyle. Don’t miss out on this incredible opportunity—schedule your showing today!
Source: STELLAR #C7507435
Why Roam
Lower rates and lower down payments
The only homebuying option for you to put 5% down and get a 5% rate.
Closing guarantee
We can close in 45 days or we’ll pay the seller’s mortgage until we close.
Offer acceptance
95% of offers accepted when made with Roam. 5% accepted without.
Have questions? Email support@withroam.com
Source: Public records
Source: STELLAR #C7507435
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.