358 Suwanee Ave, Sarasota, FL 34243
2 beds · 2 baths · 1,385 sqft sqft
One or more photo(s) has been virtually staged. Located West of the Trail in beautiful Sarasota Florida. Welcome to the perfect investment opportunity just steps away from the sparkling Sarasota Bay. Featuring a new roof, this charming two bedroom, two bathroom home sits on an oversized .44 acre lot, offering ample space for expansion, or any dream project you envision. Turn the bonus room into a study, sitting room, gym or whatever else suits your needs. This property is located outside of the flood zone and allows for short term rentals. The travertine floors throughout have been professionally cleaned and resealed. Built to withstand the test of time, travertine floors are renowned for their durability and resilience. The two car plus tandem garage allows for extra space whether that be a golf cart, storage or parking for Florida toys. Whitfield Estates Ballentine Manor is a voluntary Association with no CDD or monthly HOA fee. For only $30 a year you can enjoy a culinary membership at the SaraBay Country Club. Are you a boater? The SaraBay Marina is less than two miles North offering boat slips and dry dock storage. Ballentine Manor is a desired neighborhood conveniently located between downtown Bradenton and downtown Sarasota, and close proximity to Sarasota Airport, restaurants, shops, St Armand's Circle and world famous beaches! Turn this blank canvas into your customized dream home! Embrace the chance to reimagine and renovate this home to your desired specifications. Schedule your private showing today!
Source: STELLAR #a4612858
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #a4612858
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: #a4612858
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.