418 SE 31st St, Cape Coral, FL 33904
4 beds · 2 baths · 2,014 sqft
Welcome to this beautifully maintained 4-bedroom, 2-bath home with over 2,000 sq feet of living area. Situated at the end of a quiet neighborhood street, this home offers privacy and peaceful living. NOT IN A FLOOD ZONE AND WATER AND SEWER ASSESSMENTS ARE PAID. Inside, you’ll love the spacious layout with both a separate Family room and Living room — perfect for gatherings and entertaining your family and guests. The cozy wood-burning fireplace in the family room adds warmth and charm. This is a highly sought after TRUE FOUR bedroom featuring large walk-in closets with custom wood organizers already installed, offering incredible storage space. The primary bedroom is a serene retreat with a stunning wood-paneled accent wall that adds warmth and character to the space. The recently remodeled primary bathroom boasts a gorgeous quartz countertop and an easy-to-maintain walk-in shower. Enjoy the convenience of an indoor laundry room complete with a newer washer and dryer. Step outside through multiple sliding glass doors to an oversized screened lanai, ideal for relaxing and enjoying Florida’s beautiful weather. The large, privacy-fenced backyard has plenty of room for a pool. The lush front yard has beautiful landscaping that enhances the home’s lovely curb appeal and has automatic inground sprinklers for easy maintenance. The location is perfect, close to shopping, entertainment and medical. This property has been meticulously cared for, making it move-in ready for its next proud owner!
Source: FORTMYERS #225027076
Financials
Source: FORTMYERS #225027076
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.