540 Phillips Rd, Sebring, FL 33875
2 beds · 3 baths · 2,432 sqft
Private Oasis... Custom Home... Outdoor Living Space... Abundant Garage Space... this is an unique homestead that has so much to love! Tucked away in the native Florida scrubland, the property provides an escape to a peaceful and secluded environment. The options are endless with almost 6,000 total square footage in the home and detached building on almost an acre of land. The property has great curb appeal with mature landscaping and tasteful architecture using the combination of stucco, Hardie board, and stone. It has a metal roof on both buildings. One of the main focal points is the beautiful, screened-in back porch that features a large wood burning fireplace, an outdoor kitchen with a gas stove and a wet bar. The half bath with outside shower, tongue and groove wood ceiling, stoned fireplace and hearth, large bar area, multiple fans, televisions, and several sitting areas make this an enjoyable place to hang out and host company! The home has been built with some many thoughtful interior details such as custom window and door casings, 10 foot ceilings throughout the home with some vaulted areas featuring more tongue and groove wood, curved windows, and custom built cabinetry. The master suite is a dream!! All the doors in the master are double doors including the glass doors that lead to the back porch. The master bathroom has a soaking tub, a double vanity with a tower, water closet, and walk-in closets. One of the best perks is the beautiful walk-in shower with double shower heads. The living room has an attactive focal fireplace wall with detailed wood work. It has a guest bedroom and an additional room that can be used as a den, office, or extra bedroom. The kitchen has custom built cabinets, a gas stove, wall mounted convection oven, microwave and warming drawer, and custom countertops. The dining room is surrounded with windows for great natural lighting. PLUS... there is a large detached building in the back with endless options. There is a finished, air conditioned bonus room that could be used many different ways such as a bedroom/living room, a game room, an office, or art studio! This bonus room has a large porch overlooking the yard and includes a splash pad. There is a 2 car carport that leads into a very large garage space with an additional storage room in the back. It could be a wonderful setup for a wide range of hobbies! The options are so endless that you need to see it for yourself! It was built as a forever home, so no details were overlooked. Come unwind, kick back, and enjoy your stay!!
Source: STELLAR #b4901756
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #b4901756
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: #b4901756
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.