5249 NEVILLE TER, Port Charlotte, FL 33981
The Perfect Starter Home for Boat Lovers!! This charming 3-bedroom, 2-bathroom home on the Forbes Waterway, offers direct access to the Myakka River. Whether you're into fishing or cruising the pristine waters of southwest Florida, this home has got you covered. You can head north on the Myakka to enjoy the natural beauty and wildlife along the river, or head south to visit Sunseeker Resort or Fisherman's Village in Charlotte Harbor. You can even go west to Boca Grande Pass, the tarpon fishing capital of the world. This house features many recent improvements including a NEW ROOF as of 2023, a lanai restoration, SOLAR panels installed in 2023 and a recent A/C upgrade in 2021. The 10x20 Dock features a covered boat lift with a new Canopy installed in 2024 along with a cleaning station, electric and water at the dock. The fenced backyard is a gardeners delight with an abundance of plants and flowers, and is a perfect retreat for your pet and also includes a shed with electricity, and a screened back lanai for relaxing. There is room for a pool in the future as well if you so desire! As a resident of Gulf Cove, you can also make use of the Gulf Cove private community boat ramp and the waterfront community park, playground, and pavilion. Plus, joining the Homeowners Association (HOA) is optional, with an annual fee of $75 for membership and an annual fee of $75 for use of the boat ramp.
You may be able to put down less than the total down payment amount of $200,991 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #d6137487