613 Chestnut Ln, Englewood, FL 34223
2 beds · 2 baths · 1,498 sqft
Move right in to this beautifully updated duplex style home in Foxwood’s 55+ community. Updates include hurricane impact windows throughout, new roof, new hot water heater, retractable patio awning, updated kitchen including quartz countertops and soft close drawers and cabinets, plantation shutters, updated guest bathroom, updated flooring (no carpet!), updated electrical outlets with USB ports, and a custom dry bar! This home is immaculate! With 2 bedrooms, 2 bathrooms, and a spacious 1,498 square feet, this home provides ample room for comfortable living. The updated kitchen has plenty of storage space including a large pantry with slide out drawers. Through the living room is a Florida room with sliding doors that can be open or closed off (and even used as an additional bedroom!) leading to a back patio with retractable awning for enjoying the beautiful SWFL weather! The split floor plan offers privacy with bedrooms on both sides of the house. This home has a desirable inside laundry room which leads to a spacious 2-car garage. Located in the X Flood Zone - no flood insurance is required. This home is in close proximity to Manasota Key Beach, Dearborn St. in downtown Englewood, numerous golf courses, excellent restaurants, and a plethora of shopping options. Outdoor enthusiasts will delight in the abundance of activities available. Within the Foxwood community itself, you'll find an array of amenities to enjoy. It’s just a short walk or golf cart ride to the fun-filled clubhouse which offers different activities daily, ensuring there's always something exciting happening. Take a refreshing dip in the heated pool, engage in the popular sport of pickleball, or challenge your friends to a game of tennis. Furthermore, the community is golf cart-friendly!! This home and community have everything you need to enjoy life!
Source: STELLAR #D6140809
Financials
Source: Public records
Source: STELLAR #D6140809
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.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.