404 THOMAS AVE, Frostproof, FL 33843
Welcome to an Affordable Home with a HUGE PRICE D R O P! - Possible Four Bedroom 2 full bathroom house with a split bedroom plan. The living area has wood laminate and porcelain wood grain flooring. Newer style kitchen has cabinets topped with stone counter tops, breakfast bar with large-deep single basin sink, and stainless steel appliances. Inside laundry room with a washer and dryer set. Two bedrooms and a full size bathroom with a tub and shower combination is on one side of the house with two bonus bedrooms on the other with a full size bathroom with a shower and modern vanity sink set. There is a single car garage and enclosed porch with a open patio pleasantly placed on the front of the house with perfect seating areas where you care to sit and drink your morning cup of coffee watching the sunrise. The rear yard has a detached storage shed with an attached roof over ideal for a Bar-b-que hang out. Easy access to Hwy 27, Polk and Highlands county. This is a calm, quiet and safe area, the house is located near 10 minutes from the lake - Frostproof City Pier, Reedy Lake. The price of the house includes all the furniture and a new Big TV, a new dishwasher in 2024, new washing machine and dryer in 2024. Selelrs just relocated and reduced the price to make it appealing just right for you to act now!
You may be able to put down less than the total down payment amount of $24,454 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: #k4902605