335 Englewood Isles Pkwy # 55, Englewood, FL 34223
2 beds · 1 baths · 1,015 sqft
SKIP WINTER! Pack your suitcase and roll it inside your gorgeous, low-cost, maintenance-free, safe harbor and SAILBOAT WATER ACCESS dream life at this JUST REDUCED condo - with NO FLOOD INSURANCE REQUIRED! <p/> <p>This beautifully designed condo epitomizes the Florida lifestyle with leisure and convenience. Dive into Florida boat life with a newly upgraded 10,000-pound boat lift featuring two brand-new motors and remote as well as newly finished composite dock (with electric and water at the dock!). The leisurely 10-minute boat ride along Forked Creek leads you to direct access of Lemon Bay, no bridges! <p/> <p>The upgrades throughout blend comfort with class. The interior is adorned with luxurious vinyl plank flooring, newly installed baseboard trim, and an electric fireplace that adds an extra hint of coziness to the air. The kitchen is equipped with the latest Frigidaire stainless steel appliances, while the bathroom offers a spa-like retreat with stunning tile work from floor to ceiling and a door for privacy between the bathroom vanity and the shower/water closet.<p/> <p>Sit inside the Florida room to enjoy the energy of the sunshine or step outside to your private patio under the shade of trees. Essential upgrades include a newer roof installed in 2023, a York Air Conditioning system from 2020 with a transferrable warranty, updated hot water heater and the main sewer is lined for preventative maintenance.<p/> <p>The community pool invites you for a refreshing dip or a lazy day under the sun. When you feel like switching sands, Manasota Beach is a leisurely 17-minute bike ride away, offering yet another avenue for relaxation and recreation. Conveniently located near essentials, you’ll find a Publix Super Market, an assortment of fabulous restaurants and adorable boutique shopping along the beloved and walkable Dearborn Street. Located between Punta Gorda and Sarasota airports makes travel a breeze. It’s time to own your dream and SKIP WINTER!<p/> <p>Make every day life feel like the vacation you deserve.
Source: STELLAR #N6136781
Financials
Source: Public records
Source: STELLAR #N6136781
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.