3601 SE 5TH AVE, Cape Coral, FL 33904
If you're in search of a home that offers both a POOL and a spacious FENCED yard, your search ends here. This charming 3-bedroom residence, boasting over 1,400 square feet, is connected to city water and sewer. Upon entering, you'll be greeted by a welcoming open great room featuring an upgraded kitchen complete with beautiful wood cabinets, GRANITE countertops, stainless steel appliances, a built-in pantry, and a convenient breakfast bar. This home is perfect for entertaining, with an additional 300 square feet of flexible space that can be transformed into an extra room, office, or exercise area. The guest bedrooms are situated on one side of the home, providing privacy, with a shared bathroom conveniently located nearby. On the opposite side, you'll find the spacious master bedroom, which includes a walk-in closet and an updated master bathroom. The home is equipped with impact windows and shutters throughout for added security and peace of mind, as well as enhanced insulation in the attic to improve energy efficiency. Step outside to discover a generous deck surrounding the pool, ideal for outdoor relaxation and enjoyment. The white metal fence offers privacy, creating a serene oasis in your oversized yard. In 2023, seller has put on a new ROOF & FLAT ROOF, AC unit, Stainless refrigerator, & microwave. This home is conveniently located in the desirable Country Club area, providing easy access to both Cape Coral Parkway and Veterans Parkway, making trips to Fort Myers a breeze. Additionally, you'll find a variety of dining, shopping, and entertainment options just a short distance away. There is an opportunity to take advantage of the sellers VA assumable mortgage with the rate of 2.75%.
You may be able to put down less than the total down payment amount of $155,738 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: #224072345