304 FLETCHER ST, Port Charlotte, FL 33954
When you think of Florida thoughts of year-round sunshine, trips to the beach, endless rounds of golf and a home that allows you to enjoy these simple pleasures are what dreams are made of. This is the kind of life you’ll enjoy with this 2 bedroom, 2 bath home, situated in a quiet neighborhood and close to shopping, a host of restaurants and within a 15-minute drive to the charm of Punta Gorda’s historic waterfront with its quaint shops and waterside restaurants. Warm and inviting this home is perfect for the first time home buyer, or someone looking to downsize without the maintenance of a much larger home. You couldn’t ask for a more affordable opportunity to enjoy the Florida lifestyle. Meticulously maintained, this home has a unique charm with its light color pallet that compliments the tile and plank style flooring, its open floor plan, updated baths, with the primary bedroom featuring its en suite bath. Additional features include a new roof (2022) and solar panels that provide discounted electric service (approximately $40.00 per month) to the home. New septic and field (2018), hot water heater (2022), washer (2021) and dryer (2018). An oversized backyard provides an abundance of space for you to construct a pool or create a private garden oasis, while affording plenty of room for your children to safely play. Affordably priced, this is that opportunity to live the Florida lifestyle you’ve heard so much about.
You may be able to put down less than the total down payment amount of $112,158 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: #c7496093