408 Old Bartow Lake Wales Rd, Bartow, FL 33830
3 beds · 3 baths · 2,625 sqft
Behind a double gate entry, is a prepper’s paradise; a beautiful, 2017 custom-built home, with 3 bedrooms, 2.5 baths on 5.43 acres of land with 4 outbuildings and no HOA restrictions! This property offers limitless possibilities with room for horses, farm animals, boats, RVs, ATVs and more! The home features gorgeous hardwood flooring, a grand foyer, and an open floor plan with 2,625 s.f. of living area. The large great room centerpiece is a wood-burning fireplace and a formal dining area for casual or intimate gatherings. The eat-in kitchen is finished with beautiful granite counters, hardwood cabinetry, an island with a prep sink, breakfast bar, brand new pot filler, custom backsplash, stainless steel appliances including double ovens, and a large walk-in pantry, a chef’s dream. The large primary suite features a tray ceiling with crown molding, French doors that provide access to the lanai and barn doors leading to a spacious 7'x9' walk-in closet and en-suite bath featuring travertine floors, a walk-in shower that doesn’t need a door or curtain, granite counters with dual sinks and makeup vanity, and a separate water closet for added privacy. The secondary bedrooms are good sized and share a Jack and Jill bathroom with separate granite vanities, travertine flooring, and a tub. Step outside onto the 825 s.f. covered and screened lanai, perfect for hosting holidays and parties, and creating memories with friends and family for years to come. A huge 30’x40’ barn with concrete flooring, electricity, and 2 attached horse stalls and tack room provides plenty of room for storage of tack equipment, vehicles, boats, ATVs and misc. equipment. A 20’x21' carport offers additional parking options. There is a she-shed, with electricity, that could be used as extra storage or an art or craft studio, as well as a DREAMY greenhouse with crystal chandelier lighting and operating antique windows for year-round plant growth, an oversized backyard chicken coop, and there is plenty of space for a large garden for growing fruits and vegetables. If living a self-sustained life is your dream, this property would be paradise. Even though it is not in a flood zone, the front yard retention pond provides plenty of drainage. Additional features include; a guest powder room, an interior laundry room equipped with a washer and dryer, new paint in bedrooms and second bath, double pane windows, metal roof (2017), 2 A/C units (2017), leased water softener from Atlantic Filter (paid monthly), deep well, on septic with its own pump station, rain gutters, (2)50 amp connections for RV or generator, underground electrical lines, new outdoor direct lighting on timer, stone accents, fully fenced and more. Located less than 1/2 mile from Highway 60, it makes for easy commutes to the east and west coasts of FL. Only 5 minutes from the new South Pointe Elementary School and less than 20 minutes from downtown Bartow, Winter Haven & Lake Wales. Whether you desire space for farm animals, horses, workshops, or just privacy, this property captures the essence of the rural living experiences you've always envisioned. Don't miss the opportunity to own this unique property; call today for a private tour!
Source: STELLAR #L4951352
Financials
Source: Public records
Source: STELLAR #L4951352
To qualify, you must meet the current FHA or VA 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.