3744 E Lake Dr, Land O Lakes, FL 34639
4 beds · 3 baths · 2,736 sqft sqft
NEW ROOF! This home has an assumable VA loan. Offering 1% mortgage rate buy-down for one year. Welcome to your dream home located in the highly desirable community of Lake Padgett Estates in Land O' Lakes, Florida. Living here gives you access to 3 different private ski lakes in the community; East Lake, Lake Padgett, and Lake Saxon. Lake Padgett has restaurants and bars on the water perfect for boating to your favorite local spots to eat and drink. This stunning single-story lakefront residence on East Lake offers the perfect blend of luxury, comfort, and outdoor activities. The home features 4 large bedrooms and 3 full bathrooms, with 2,736 sqft of interior living space, and sits on just under half an acre of land. Newer double-pane hurricane rated windows throughout the entire house. With no HOA or CDD, you have the freedom to bring your boats and RVs. Golf cart friendly and initially an Equestrian community with horse stables. The property includes a private boat dock with a lift to keep your boat dry and covered. Enjoy the extra-large swimming pool, which is 10 feet deep, and the expansive back porch that provides plenty of space for entertaining while offering stunning lake views and direct access to the water for all boating, swimming, and lake activities. The extra-large garage includes a rear door for easy access to the backyard. Located just 5 minutes from Publix, 20 minutes from the hospital, and 30 minutes from Tampa International Airport, this peaceful and spacious lake house with a pool offers an incredible lifestyle opportunity.
Source: STELLAR #t3545969
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #t3545969
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: #t3545969
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.