VA loan
1 of 47
VA loan
$595,000 SIGNIN

Sign in to see required down payment for the 2.75% rate

354 Prather Dr, Fort Myers, FL 33919

3 beds · 2 baths · 2,217 sqft

This is the ONE you have been waiting for. It has a perfect blend of thoughtfully upgraded interior features, side loading 2-car garage with extra storage capabilities and an amazing outdoor space for entertaining friends & family. Welcome to 354 Prather Drive in Fort Myers! As you enter the McGregor Isles community through the landscaped front entry, follow the winding road, where it feels like home. On the outside, you will notice the NEW ROOF (4 years old), fresh exterior paint and NEW FENCE (4 years old) that give this home a modern look. The living space inside this spacious 3 bedroom, 2 bathroom property spans over 2,200 Sq. Ft., all beautifully upgraded in 2021. The attention to detail shines in the new kitchen through Quartz countertops, all new cabinetry, tile backsplash, stainless steel appliances and updated lighting creating a beautiful centerpiece to the home. The high end vinyl flooring runs throughout the main area of the home for a seamless look. The Owner's suite feels like a retreat with an extra large bedroom providing access to the lanai area, dual closets and the most spectacular bathroom around. The space was completely redesigned with luxury in mind including a soaking tub, walk in shower with frameless shower doors and separate vanity areas. The extended lanai with heated pool and hot tub is perfect for entertaining guests as you enjoy gorgeous sunset views. Feel confident knowing that this property has never flooded and all renovations were completed in 2021. Recent Elevation Certificate puts the house at 7 ft. and the Sellers have a transferable Flood Insurance Policy.

Estimated
Seller's interest rate
2.75%
7%
Estimated
Monthly payment

$2,967
$4,145
You may also save up to $370,092 in total interest paid.

Learn about how it works

Why Roam


Gap financing to lower your down payment

Unlock down payments as low as 5% – only with Roam

5x the likelihood your offer is accepted

If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close

Close faster and stress-free

We close 2x faster because of our deep experience and lender relationships

Rates and payments are estimates based on public records.


Open house
Apr 27 • 1PM - 4PM
Financials
Seller’s estimated current equity is SIGNIN
To assume this mortgage you must cover the seller’s equity by using your cash or by combining your cash with gap financing.
Estimated $4,145 monthly payment

Financed
SIGNIN
Location
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Loan details
Loan type
VA
Rate
2.75%
Remaining term
26 yrs and 2 mos
Remaining balance

Source: Public records

Monthly payment

All values shown are estimated costs / mo.

Total
$2,967
Principal & interest
$2,122
Mortgage insurance
-
Property taxes
$304
Home insurance
$540
HOA fees
-
Utilities
Not included

Source: Public records

Home details
Size
2,217 sqft
Lot size
0.246 acres
Year built
1988
Type
Single Family Residence
HOA dues
$0.00

Source: FORTMYERS #225032794

Qualify

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.

Resources
Frequently asked questions

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.

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.

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.

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 “Save search” 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.

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 620, 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.

View all FAQs
Last updated: Apr 24, 2025 09:19 am
Listing agent: Katherine Paquette (239) 339-7612
Listing provided courtesy of: Starlink Realty, Inc (239) 693-7263
Details provided by FORTMYERS and may not match the public record.
MLS ID: #225032794
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
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$2,967
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