4215 Glenoak Dr N, Lakeland, FL 33810
3 beds · 2 baths · 2,016 sqft
Looking for a house to make a home with your own personal wall colors and flooring with some TLC this .83-acre lot is in a picturesque country setting. This home is ready for someone to add personal touches and transform this space into the beautiful home it once was. There is a 2-story vaulted ceiling in the living area that showcases the open-concept living area, allowing natural light to flood in and highlight this space. Bathroom updates will create a personal feel for both relaxation and entertainment. The primary bedroom and ensuite bathroom are located upstairs with another bedroom and a spacious loft that would make a great office or family room overlooking the living room down below. The loft can be converted into a 4th bedroom. The 3rd bedroom is on the main floor with the guest bathroom and laundry room. A covered side porch gives this home some rustic charm paired with the stonework on the exterior walls and this large covered 10 x 24 porch. This property has much potential to be a dream come true for those seeking land with NO HOA. Here, you can truly embrace country living, complete with ample outdoor space for gardening, playing, or host summer barbecues under the stars enjoying nature. With a large metal building/ WORKSHOP of almost 1,200 square feet and plenty of room provides endless possibilities. Estimated repairs are at $35k with an ARV of $495k so even an investor can jump in on this deal!! All sizes are approximate. Being sold as-is.
Source: STELLAR #l4949650
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #l4949650
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #l4949650
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