623 RAINBOW BLVD, Babson Park, FL 33827
**Charming 2-Bedroom Home on a Spacious Corner Lot** Welcome to your dream retreat! This delightful 2-bedroom, 2-bath home is perfectly situated on a generous .36-acre corner lot, offering both space and privacy. The fenced yard is ideal for families and pets, providing a safe haven for outdoor activities. **Outdoor Oasis** Step outside to discover a backyard oasis featuring a screened, heated chlorine pool that invites relaxation and enjoyment year-round. Imagine hosting summer gatherings or simply unwinding after a long day in your private paradise. The property also includes a 12x14 shed that offers ample storage for all your gardening tools or recreational equipment. **Comfortable Interior** Inside, the home boasts a split floor plan that provides ideal separation between the two bedrooms, making it perfect for guests or family members. The interior is adorned with beautiful vinyl flooring throughout, ensuring easy maintenance and a modern feel. The heart of this home is the well-appointed kitchen, which includes an eat-at bar and a convenient closet pantry. It’s perfect for casual dining and socializing while preparing meals. The laundry room is thoughtfully designed to be indoors, adding an extra layer of convenience to your daily chores. **Additional Features** An enclosed lanai with a window unit enhances your living space, offering a versatile area that can be used year-round. This space can serve as a cozy reading nook, an office, or an additional entertaining space, ensuring you have room for all your needs. Safety and reliability are paramount in this home, equipped with hurricane shutters to protect against inclement weather. Additionally, a whole-house Generac generator powered by a buried 500-gallon propane tank ensures you will never be without electricity, no matter the conditions outside. **Location and Community** Located in a friendly neighborhood, this home is close to local amenities, including schools, parks, shopping, and dining options. Enjoy the convenience of being just a short drive away from recreational activities and entertainment. **Conclusion** This charming 2-bedroom, 2-bath home sits on a spacious corner lot, offering an inviting blend of indoor comfort and outdoor leisure. With a fenced yard, heated chlorine pool, and thoughtful amenities, this home is a perfect haven for those seeking both tranquility and accessibility. Don’t miss out on this incredible opportunity! Schedule your showing today and start your next chapter in this beautiful property.
You may be able to put down less than the total down payment amount of $96,536 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: #p4931922
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.