5802 Hatteras Palm Way, Tampa, FL 33615
3 beds · 3 baths · 2,778 sqft
Get a free consultation call with an expert in the mortgage assumption process.
HUGE PRICE DROP! Don’t miss your chance—this home won’t last long, so bring your best offer! Welcome to one of the LARGEST LOTS in the highly sought-after gated community of Palm Bay. This spacious 3-bedroom, 3-bathroom home sits on a quiet cul-de-sac and backs up to a peaceful conservation area, offering privacy and beautiful natural views. - With access to a BOAT SLIP available exclusively to homeowners. With nearly 2,800 square feet of living space, the home features a bright layout with soaring ceilings, a wood-burning fireplace, and a recently updated kitchen complete with QUARTZ countertops, a stylish backsplash, a new sink and stainless steel appliances. From the large sliding glass doors in the spacious living area, step outside to a covered lanai and screened-in patio with a Fiber Tech HEATED SALTWATER POOL, recently resurfaced and backed by a 24-year warranty, complete with a JACUZZI – perfect for entertaining or relaxing in your private backyard retreat. The primary suite is generously sized and includes French doors to a private balcony, walk-in his and her closets, and a beautifully remodeled en-suite bath with a Jacuzzi tub and dual sinks. The additional upstairs bath offers a Jack & Jill layout, perfect for family living. Recent upgrades include a brand-NEW TILE ROOF, AC system with UV light, and water heater, all completed in 2023. The lanai furniture, pool vacuum, and Grill Memphis Ultimate convey for your convenience. Residents of Palm Bay enjoy access to resort-style amenities including a PRIVATE BEACH, boat ramp and marina, tennis courts, playground, and more. Ideally located just minutes from Tampa International Airport, shopping, dining, and top-rated schools. This is a rare opportunity to own a move-in ready home on one of the largest lots in the neighborhood.
Source: STELLAR #O6285132
All values shown are estimated costs / mo.
Source: Public records
Source: STELLAR #O6285132
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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.
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 “Save search” 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.
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 620, 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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.