534 Caribbean Dr
Lakeland, FL 33803
3 beds · 2 baths · 1,730 sqft
$367,000
Get prequalifiedAbout this home
Under contract-accepting backup offers. Discover waterfront living at its finest with this stunning home featuring a private gazebo right on the water. Start your mornings with a cup of coffee while taking in the serene views of the fountain and lake wildlife. If you need a break from the sun, retreat to the expansive screened lanai that overlooks the lake, offering a perfect spot for relaxation in the shade complete with tinted windows to keep it cool. The garage provides ample storage space for all your tools and more and a generator hook up. The kitchen boasts elegant stone countertops, a spacious pantry, and room for a formal dining table—ideal for family gatherings and holiday feasts. The vaulted ceilings create an open and airy ambiance throughout the home. The generously sized master bedroom easily accommodates a king-size bed without feeling cramped and features a luxurious ensuite with a jetted tub and a full-size walk-in shower. Located in the desirable community of Villas by The Lake, you'll have access to a range of amenities, including a community pool, fitness center, and a clubhouse with various activities. Conveniently close to medical offices, an urgent care clinic, shopping malls, including Lakeside Village Mall just minutes away, where you'll find shops, restaurants, and entertainment options. With easy access to the Polk Parkway, commuting is a breeze. Enjoy a stress-free lifestyle and take advantage of Florida's beautiful weather year-round. This community is not age-restricted, and the home has a new roof installed in 2017.
Source: STELLAR #l4947606
Neighborhood
FAQs
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.
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.
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.
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.
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 “Save search” 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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.