532 S 8th St, Lake Wales, FL 33853
3 beds · 2 baths · 1,800 sqft
Back on the Market! Where timeless elegance meets charming character in this beautifully crafted home. This enchanting residence boasts a fusion of historic allure and modern comfort. As you step through the hobbit-style solid wood doors, you're greeted by the warmth of original hardwood floors that flow seamlessly throughout most rooms, evoking a sense of heritage and craftsmanship that's hard to find. The architectural details, meticulously preserved over the years, showcase the impeccable attention to detail of yesteryears. Natural light floods the interior, enhancing the already airy and inviting atmosphere. Every corner of this home tells a story, from the graceful archways to the intricate molding, each element adding to its unique appeal. A newer roof stands as a testament to the home's commitment to longevity and durability, providing protection from the elements and adding to the property's overall value. Paired with an updated AC system, residents can enjoy optimal climate control year-round, keeping cool during the balmy Florida summers and cozy during the occasional chilly evenings. Inside, the updated electrical system ensures safety and reliability, allowing residents to power their modern-day conveniences with ease. Meanwhile, newer windows flood the home with natural light while enhancing energy efficiency, contributing to a more sustainable and cost-effective living environment. This home offers the perfect blend of privacy and accessibility. Sure to capture your heart with its historic charm and modern comforts. Move in Ready!! Don't miss the opportunity to make this piece of Lake Wales history your own.
Source: STELLAR #p4929547
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #p4929547
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: #p4929547
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.