5585 Long Shore Loop, Sarasota, FL 34238
3 beds · 3 baths · 2,489 sqft
This stunning nearly new lakefront home is now on the market and ready for showings. Welcome to Sunrise Preserve, a new amenity-rich, maintenance-free and gated community located by Palmer Ranch! This three bedroom plus office home is well-appointed and hard not love at first sight. From the moment you walk into this clean, upgraded open concept plan you will notice all the smart spaces and abundant upgrades. The great room overlooks the pool and ties in seamlessly with the kitchen. You will notice wood-look tile throughout the house as well as abundant can overhead lighting. The kitchen features quartz countertops, glass-tile backsplash, a suite of stainless steel appliances and overhead vent for the gas range. The primary suite is spacious and private- offering plantation shutters overlooking a scenic view, a massive walk-in closet, and opulent spa-like bathroom that features dual vanities and an oversized shower with dual heads! The guest bedrooms each have a dedicated and well-designed bathroom and there a dedicated office space to round out all the spaces. In 2021, a new luxurious saltwater pool was added to this property and it features a spa with gas heat, travertine decking, clear-view screen cage, lighted fountain bowls, and sun shelf with loungers for enjoying your perfect oasis. All of this is set on a great lot with water view and trees behind it for a great private view! The three car garage includes abundant storage as well as electric car charging built-in. Living in Sunrise Preserve is a dream- the landscaping is included in your HOA fees, and the amenities are fantastic. Whether you enjoy relaxing by the resort-style pool, meeting friends for pickleball, tennis or bocce- you will certainly love the lifestyle this upscale community offers. Add in a great school district, convenient location to shopping and Gulf Beaches and you’ll want to schedule your private showing today!
Source: STELLAR #a4622266
Source: STELLAR #a4622266
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: #a4622266