5000 Chancellor St NE, Saint Petersburg, FL 33703
3 beds · 2 baths · 1,932 sqft
Pre-Construction. To be built. Pre-Construction. To be built. This pre-construction home is a custom-built 3-bedroom, 2-bath coastal-style residence located at 5000 Chancellor St NE in St. Petersburg, Florida, near the Northeast historical district, just outside of Snell Isle and minutes from vibrant downtown St. Pete. The thoughtfully designed open-concept layout features a stunning quartz island in the kitchen, perfect for gathering, which overlooks the family and dining areas. Large sliding glass doors seamlessly connect indoor and outdoor living spaces, with plenty of room to add an outdoor kitchen for entertaining or relaxing. The master suite serves as a private retreat, complete with double doors, a spacious walk-in closet, and a spa-inspired master bath featuring a floor-to-ceiling walk-in wet area. Additional highlights include a 2-car garage, elegant shaker cabinetry, tile backsplash, quartz vanities in all bathrooms, and durable luxury tile flooring throughout. Comfort and efficiency are prioritized with energy-efficient features like an advanced water heater, LED lighting, and USB outlets. The earlier buyers get involved in the construction process, the more opportunity they have to fully customize the home to their unique preferences. Optional upgrades include a gourmet kitchen package, privacy fence, spa, brick paver driveways, Hardie shake siding, tailored landscaping, and more—allowing homeowners to personalize every detail. This residence blends historic neighborhood charm with modern amenities and comes with a 2-10 home warranty and premium materials. Nestled in the desirable Shore Acres community, it offers proximity to top dining, shopping, and cultural experiences in downtown St. Petersburg, while providing the rare chance to make your dream home exactly how you envision it.
Source: STELLAR #TB8362726
Financials
Source: Public records
Source: STELLAR #TB8362726
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.