5528 ARLINGTON RIVER DR, Lakeland, FL 33811
One or more photo(s) has been virtually staged. Waiting for interest rates to drop? What if I told you this home offers an assumable FHA mortgage option at a very LOW interest rate of 3.25%? No need to wait for those rates to go down when you have this opportunity! Welcome home! Built by Casa Fresca in 2021, this spacious 2-story, 5-bedroom Catalina floorplan is located within the vibrant community of Riverstone. With its modern features, spacious layout, desirable location, and access to a multitude of amenities, this house and community make a wonderful opportunity for you to call this place your new home. This exceptional property offers many desirable features and amenities that will leave you feeling captivated. The first feature you will immediately notice is that the front porch is screened in. As you walk through the front door, you are greeted by a long hallway that leads to an open-concept living and dining area. The kitchen boasts modern appliances, ample counter space, a large kitchen island with gorgeous granite countertops, and a large walk-in pantry. As you cook or are enjoying a meal in the dining area, you will appreciate the sliding doors that lead out to the spacious backyard, which is the perfect place to entertain family and friends. Additionally, the main floor features a den, which can be used for multiple purposes, such as a secondary living space or a home office. Ascending the staircase, you will discover the luxurious primary bedroom, complete with a private ensuite bathroom featuring a double sink vanity and a HUGE walk-in closet. One other spacious bedroom is located on the main floor, and three other generously sized bedrooms are located on the upper floor. All provide ample space for family members or guests, each offering their own unique comfort and charm. There is also a massive recreation room on the upper floor that can be used for anything you could imagine: a play room, movie room, office, game room - the possibilities are endless! Walking down the hallway on the upper floor, you will also notice the large laundry room, which is in the perfect location- offering convenience. This vast and well-organized area makes for the perfect space for all your laundry needs. Other awesome features of this home include: smart home features, walk-in closets, ceiling fans, and an in wall pest system. The Riverstone community boasts an abundance of amenities that include playgrounds, scenic walking trails around lakes and ponds, a clubhouse, dog park, and TWO sparkling pools. This beautiful house is waiting for you to make wonderful new memories here. Call today to make this house your HOME!
You may be able to put down less than the total down payment amount of $121,154 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: #l4946453
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.