309 N HERNANDO AVE, Arcadia, FL 34266
Do you need a large 5 bedroom 2 bath home, on a corner lot in the city. Maybe you need space to work from home with office areas. There is a bedroom on every corner of this home, giving space and privacy to family members or workspaces. Tile floors throughout the home. Walk in pantry just off the kitchen. Also has a 2 bedroom 1 bath detached apt for parents, guest or friends. Even more amenities with a 24x32 garage/workshop with 2 overhead garage doors. This garage has plenty of storage space for all your recreational vehicles, lawn mowers, and tools! The main house offers a terrific open floor plan, graciously accommodating the separate but adjoining dining area and well-equipped kitchen with large island, ready for every day meals, homework, or a holiday buffet, all a part of the spacious living room, that welcomes you the moment you step inside the home. This home was designed with your family in mind! Plus it has a spacious backyard with privacy fence and room for a pool or that garden you always wanted! A pleasant 10x24’ covered deck open to the large back yard, great for grilling, chilling, or just plain fresh air enjoyment for the whole family. The front yard beckons you to create your own favorite Florida landscaping enhancements to make this home joyously reflect its own loveliness. Close to schools and medical services, Wal-Mart and Publix of course! Wawa and new eateries as well. A growing community offering great fun and opportunities for every member of the family. Try antiquing downtown, or have fun canoeing on the Peace River, thrill at the All-Florida Championship Rodeo, develop personal leadership skills and cultivating next generation agri-business in the DeSoto County 4-H Clubs. Here it is! Make your appointment today! All offers are appreciated.
You may be able to put down less than the total down payment amount of $74,610 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: #c7496942
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.