5506 River Sound Ter, Bradenton, FL 34208
3 beds · 3 baths · 1,680 sqft
This Key West-style home in the gated riverfront community of River Sound offers modern conveniences with a spacious open floor plan and detached two car garage with additional private parking. Entertain in your private brick-paver courtyard area. Enjoy the Florida outdoor living year-round! The home’s interior offers neutral colors and finishes, kitchen countertops galore with a center island, kitchen pantry, bar seating, spacious bedrooms, plenty of storage closets, hard surface countertops throughout, GE Profile appliances, recessed lighting, tile flooring throughout the first floor and all bathrooms, hurricane shutters. The primary bedroom and en-suite bathroom include dual sinks, a walk-in closet and walk-in shower, as well as an expansive Key West-style balcony overlooking well-manicured Florida foliage—great for watching the sunrise and relaxing while the sun in going down! The two guest bedrooms are connected by a convenient and functional Jack and Jill bathroom with bath/shower combo. River Sound’s HAO fees are affordable, NO CDD fees, and the amenities include a resort style heated pool and spa oasis--designed for the perfect pool day, two incredible dog parks, playground, gazebos, sidewalks on both sides of roadways, walking trails, a fishing pier on the Braden River exclusive to River Sound residents. This community is well maintained and convenient to I-75, UTC Mall, all the local area beaches, everyday shopping, dining, and anything and everything you are trying to get to in the Sarasota-Bradenton area.
Source: STELLAR #a4624193
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #a4624193
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: #a4624193
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.