3829 Edgewood Ave, Fort Myers, FL 33916
3 beds · 2 baths · 1,224 sqft
***NO FLOODING EVER***Home will qualify for flood zone removal***Own a Piece of Fort Myers History! Charming 1950s Home with Detached In-Law Suite*** Live in the heart of historic Fort Myers, just steps from McGregor Boulevard and the vibrant downtown area! This unique 1950s charmer on a corner lot offers incredible potential with two structures on one property. Imagine strolling to renowned restaurants, boutiques, and nightlife – it's all right outside your door! This home exudes curb appeal, boasting a white picket fence that gracefully lines the walkway to the main house. Inside, a spacious enclosed front patio, bathed in natural light from numerous windows, creates a delightful indoor/outdoor living space. The expansive living room, anchored by a classic fireplace, is perfect for entertaining and relaxation. The main house also features a dining area, kitchen, two bedrooms, a bathroom, and an enclosed lanai leading to the fully fenced backyard. But that's not all! A detached in-law suite, complete with a kitchenette, bathroom, and garage, offers endless possibilities. Generate rental income, create a multi-generational living space, or even explore lucrative short-term rental opportunities. The corner lot's layout provides separate entrances and parking for each structure, enhancing privacy and convenience. Recent Updates & Key Features: New Roof (2020): Enjoy peace of mind with a recently replaced roof. Detached In-Law Suite: Ideal for rental income, multi-generational living, or short-term rentals. Corner Lot with Separate Entrances: Enhanced privacy and flexibility. Enclosed Front Patio: Perfect for enjoying Florida's sunshine year-round. Expansive Living Room with Fireplace: A cozy and inviting space. Fully Fenced Yard: Secure and private outdoor area. VA & FHA Loan Friendly: The current owner purchased with a VA loan, making this home potentially accessible to a wider range of buyers. Prime Location: Historic Fort Myers, close to McGregor Blvd and downtown amenities. This is a rare opportunity to own a piece of Fort Myers history! Don't miss out – this home is priced to sell and won't last long. Compare the recent sales – you'll see the value! Schedule your showing today!
Source: FORTMYERS #225012587
Source: FORTMYERS #225012587
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.
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