3620 NW 38th Ter, Cape Coral, FL 33993
3 beds · 2 baths · 1,680 sqft
Welcome to this enchanting WATERFRONT property nestled in a safe and quiet neighborhood located ON A CUL-DE-SAC road. This home will be within seconds of the NEW 10 MILLION DOLLAR CRYSTAL LAKE PARK (Completion: Spring 2025) which will have a freshwater LAGOON-STYLE LAKE with a BEACH, as well as scuba diving, boat ramps for boating, kayaking, biking and walking paths, fitness stations, food trucks and much more. Don't miss the opportunity to own a home next to this state-of-the-art park before property prices increase! This home was built for an employee of the builder with many upgrades like LEVEL 6 GRANITE COUNTERTOPS, HIGH END LVP THROUGHOUT (NO CARPET), KITCHEN BACKSPLASH, UPGRADED CABINETS with SOFT CLOSE, RO SYSTEM, WHOLE HOUSE GUTTERS, STAINLESS STEEL APPLIANCES, EPOXY GARAGE FLOOR, EXTERIOR STONE WALL ACCENTS, SHOWER TILE and a JETTED WHIRLPOOL TUB in the Master Bathroom. This home is a mere TWO YEARS YOUNG, offering LOW INSURANCE AND ENERGY COSTS as well as the remainder of a TRANSFERABLE 10-YEAR STRUCTURAL WARRANTY and a 5-YEAR HVAC WARRANTY. The VAULTED CEILINGS lend an open and spacious ambiance, while the SCREENED ENTRYWAY welcomes you into the home. Relax on your SCREEND-IN LANAI overlooking your SIZABLE BACKYARD and CANAL with a SEAWALL, perfect for fishing, kayaking, or paddleboarding. The landscaping can easily be maintained with the IRRIGATION SYSTEM. Keep you and your family safe with the ADT SECURITY SYSTEM.
Source: NABOR #224058730
Source: NABOR #224058730
Source: Public records
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%. 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.
Other resourcesWhat 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.