4010 Paw Paw Trl, Lake Wales, FL 33898
5 beds · 3 baths · 3,123 sqft
Discover country living at its finest with this stunning 5-bedroom, 3-bathroom home situated on 5.78 acres of picturesque land in Tiger Creek Forest! Tiger Creek Forest is a gated community with a low HOA and an abundance of wildlife. With over 3000 square feet of living space, this property offers plenty of room to spread out while enjoying modern comforts and outdoor adventure! This home features a separate detached man cave and/or office in one wing of the home, the other wing includes 2 bedrooms with a split bath, a spacious living room area, beautiful kitchen with stainless steel appliances, indoor laundry (washer and dryer included), a brand new above ground pool just recently installed surrounded by a large wood deck perfect for entertaining, a treehouse for the kiddos, firepit, 4-stall horse stables, pole barn, 3 sheds and a large 50x48 steel building perfect for storage, a workshop or hobbies. This home has it all! Schedule a showing today and experience this one-of-a-kind property for yourself!
Source: STELLAR #P4934220
Financials
Source: STELLAR #P4934220
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.
