306 E PARIS ST, Tampa, FL 33604
Welcome to a unique opportunity in one of Tampa's most sought-after neighborhoods! This classic 1938 home, nestled in the heart of Seminole Heights, offers a blend of vintage charm and modern potential. Just a short stroll from the Seminole Heights Garden Center, this property is perfectly positioned for easy access to all that Seminole Heights offers. This home features a huge in ground pool, oversized lot provides plenty of space for outdoor activities and gardening. Electric upgraded to 400 AMP in 2020, well on property but on city water and sewer. Potential for Expansion: The rear of the lot already has a foundation in place for a guest home, ADU, or Man Cave. Vintage Appeal: Featuring a classic fireplace, this home retains much of its original character and charm. This property is a diamond in the rough, requiring some renovation to restore it to its former glory. Bonus room could become a 5th bedroom. Bring your vision and creativity to make this home truly your own. This home is being sold as-is for cash only. Don’t miss out on this rare opportunity to create a personalized retreat in a thriving neighborhood. Buyer to initiate due diligence. Act quickly—properties like this don’t come around often!
You may be able to put down less than the total down payment amount of $131,677 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: #t3547749