5571 Sabal Palm Ln, Punta Gorda, FL 33982
3 beds · 2 baths · 2,100 sqft
Just hitting the market, property for sale at 5571 Sabal Palm Lane, Punta Gorda, FL, USA. This property is a quiet tropical paradise located 10 minutes from downtown Punta Gorda. Ranch style single family house, 2,100 square feet set on 1.75 acres with a ton of greenspace. 3 bedrooms, 2 full baths, mother-in-law suite with seperate exterior entrance, pool and patio access through master bath and 2 sliding glass doors. NEW coat of paint in Kitchen and both bathrooms. Upgraded living room, master bedroom and mother-in-law suite with hardwood floors and fresh coat of paint. Metal roof installed 2016. NEW 40 gallon hot water heater installed 2021. There is a 240 Sq foot BARN SHED plus a utility shed for storage. House is NOT located in a flood zone and had NO interior or exterior damage during Hurricane Ian in 2022. Appliances are included Double oven, side by side refrigerator/freezer, dishwasher, microwave, washing machine, and dryer. Plenty of space around the property to park recreational toys. The house has an exterior 30 amp hookup to power an RV. Outside entertainment includes a fire pit with fully stocked woodpile and a wooden swing overlooking the neighbors pond. This house is your new blend of country living that is conveniently located close to schools and stores.
Source: STELLAR #o6229672
Source: STELLAR #o6229672
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: #o6229672
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