4500 Old Colony Rd, Mulberry, FL 33860
3 beds · 2 baths · 1,588 sqft sqft
Seller willing to contribute up to $9,000 towards a 2-1 Temporary Interest Rate Buydown with preferred lender! USDA eligible property for qualified buyers with ZERO percent down! Newly renovated but maintaining its original character, this home is a must-see! Located in the desirable Imperial Lakes neighborhood, it’s near all that Mulberry and South Lakeland have to offer. Inside, you’re welcomed by tall cathedral ceilings accented by wood beams. The wood paneled walls and large stone fireplace create a charming living space to relax with your friends and family. The fireplace is accented by two windows, and there is also a wide sliding glass door providing lots of natural light in the living room. The brand-new kitchen connects to the living room via counter height bar, and features stainless steel appliances, quartz countertops, new cabinets and tray ceiling. There is also a passthrough window over the kitchen sink to the back porch. The formal dining room is located off the kitchen. Each bedroom has been updated with new carpet and ceiling fans, and the primary bedroom features an en suite bathroom and walk-in closet with closet organization system. You don’t have to step outside to do laundry as the washer and dryer are located in the garage! The interior also features a brand new electric water heater. Outside, enjoy the privacy and security of a fully fenced-in backyard that hosts a sparkling in-ground pool, pool deck, and spacious screened-in back porch. The exterior has been refreshed with new paint and new landscaping. This home also features a 2-car attached garage and driveway, providing plenty of parking!
Source: STELLAR #l4947087
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #l4947087
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: #l4947087
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.