4731 Portobello Cir, Valrico, FL 33596
4 beds · 2 baths · 2,054 sqft
POOL Home in Valrico's Bloomingdale Cove! Built in 1997, this well planned home features 4 bedrooms, 2 bathrooms, a 2-car garage PLUS a fenced backyard with screened lanai and in ground pool. Split bedroom floor plan with modern finishes welcomes you. As soon as you step in you will notice spacious formal areas that include both the living and dining rooms with architectural archways and soaring ceilings. The kitchen has some amazing marble countertops with lots of cabinets and space for a center island if you wish. There is even a breakfast alcove with a window for morning coffee time. The 4th bedroom has double door entry and might also be used as a home office as it is located right across from the kitchen area. The family room features sliding doors that open to a covered lanai with screening and a nice sized pool. The Primary bedroom is located by itself on one side of the house, creating privacy, and features a walk in closet, modern double vanity, soaking tub and step in shower with modern tile. There are 2 secondary bedrooms located on the other side of the home and share a full sized bathroom. Bloomingdale East is known for it's top tier schools, community park, ballparks and YMCA. This home is just minutes from shopping, dining, and easy interstate access. It's good to be home! This property may qualify for Seller Financing (Vendee).
Source: STELLAR #TB8366585
Financials
Source: Public records
Source: STELLAR #TB8366585
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.
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