408 OLD BARTOW LAKE WALES RD, Bartow, FL 33830
Nestled behind a gated entry, come discover rustic elegance in this 2017 custom-built 3 bedroom, 2.5 bath home on 5.43 acres of pristine land with 3 outbuildings and no HOA restrictions! This property offers limitless possibilities with room for horses, farm animals, boats, RVs, ATVs and more! Welcome to 408 Old Bartow Lake Wales Rd in Bartow, FL. Passing through the double gated entry, you'll be charmed by the traditional-style home with a welcoming covered front porch. Step inside to discover gorgeous hardwood flooring, a grand foyer, and an open floor plan with 2,625 sqft of living area that exudes warmth and character. The expansive great room features a wood-burning fireplace that provides a cozy ambiance and a formal dining area for casual or intimate gatherings. The eat-in kitchen is finished with elegant 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. The primary suite is a retreat in itself, with a tray ceiling adorned with crown molding, French doors providing 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, granite counters with dual sinks and makeup vanity, and a separate water closet for added privacy. The secondary bedrooms are generously sized and share a Jack and Jill bathroom with separate granite vanities, travertine flooring, and a relaxing tub. Step outside onto the 825 sqft covered and screened lanai, perfect for hosting holidays and parties, and creating cherished memories with friends and family for years to come. A huge 30’x40’ barn with concrete flooring, electricity, and 2 attached horse stalls provides plenty of room for storage of vehicles, boats, ATVs and equipment. A 10'x40' covered storage space and a 20’x21' carport, both offer additional parking options. For hobbyists, there is a she-shed that could be used as an art or craft studio, as well as a stunning greenhouse with crystal chandelier lighting and operating windows for year-round plant growth. Fresh eggs can be collected daily from the backyard chicken coop, and there is plenty of space for growing fruits and vegetables. If living a self-sustained life is your dream, this property offers the perfect footprint. A front yard pond adds to the beauty and provides a peaceful spot for reflection and sunsets. 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, 2 A/C units, leased water softener, 4" deep well, rain gutters, 50 amp connection for RV or generator, underground electrical lines, solar lights, stone accents, fully fenced and more. Located less than 1/2 mile from Highway 60, making 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 estate, call today for a private tour!
You may be able to put down less than the total down payment amount of $359,959 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: #p4930227
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.