3105 SE 16th Pl, Cape Coral, FL 33904
3 beds · 2 baths · sqft sqft
BRING ALL OFFERS!!! Short sale so any/all offers will be presented!! Seller needs to sell ASAP! Great property for year round living or vacation rental as its on the water but not in a flood zone and NO FLOOD INSURANCE REQUIRED - making your ROI even better!! DIRECT GULF ACCESS - This exceptional property boasts a private dock, electric boat lift, and seamless access to open water! Located in a NO FLOOD ZONE, this home requires NO FLOOD INSURANCE. The property features a NEW ROOF installed in June 2023 with 3rd nail retrofitting, offering extra protection during high winds and additional savings on insurance. Excellent home for entertaining with a spacious open great room style floor plan and a large circle drive for lots of parking! The home comprises three bedrooms and two baths with an open concept layout and high-end finishes. Enjoy the convenience of newer stainless-steel appliances and a newer washer and dryer. The stunning kitchen includes navy blue lower cabinets and an island, white upper cabinets, solid surface waterfall islands, and sleek gold cabinet pulls and faucet. This home also offers a split floor plan with smart locks and electric shades on the windows, including room-darkening shades in the bedrooms. A screened front entryway adds to the peaceful ambiance. The serene outdoor living space is perfect for entertaining guests poolside or simply relaxing and taking in the views. With large windows providing abundant natural light and custom remote-controlled window treatments throughout, this home truly embodies upscale waterfront living. Enjoy quick access to open water without any bridges or locks to navigate. The property features a large front and back yard, and is situated on a dead-end street, ensuring privacy and tranquility. It is conveniently located just minutes from dining, entertainment, and shopping, and close to Downtown Fort Myers, accessible via the Midpoint Bridge less than a mile away. This home also presents a fabulous rental income potential with no lease restrictions and no HOA. Notably, there was no flooding from Hurricane Ian, and the home has new soffits and new gutters. This peaceful retreat is perfect for those seeking an upscale waterfront lifestyle.
Source: FORTMYERS #224060386
Interest rate and monthly payment estimated based on public records.
Source: FORTMYERS #224060386
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #224060386
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