6502 Whelan St, Englewood, FL 34224
3 beds · 2 baths · 1,330 sqft
***NO FLOOD ZONE *** ***NO HOA FEES*** ***NO CDD FEES*** A LOVELY HOME WITH A CHARMING FRONT PORCH...!! THIS 3 BEDROOM, 2 BATH, 2 CAR GARAGE HOME IS LOCATED IN ENGLEWOOD. THE SELLERS HAVE JUST HAD THE HOME PROFESSIONLY CLEANED and FRESHLY INSIDE PAINTED. CLOSE TO SHOPPING. THIS IS A SPLIT 3 BEDROOM, 2 BATH, 2CAR GARAGE HOME. THE PRIMARY SUITE HAS 2 FULL SIZE CLOSETS. PRIMARY BATH HAS A GARDEN TUB AND A SEPARATE LARGE SHOWER AND DUAL SINKS, AS WELL MANY CABINETS. THE LARGE LANAI OVERLOOKS THE PRIVATE BACKYARD. IT ALSO HAS A SLIDING DOOR INTO THE HOME, PRIMARY SUITE AND FRENCH DOORS INTO THE KITCHEN. LANAI GETS MORNING SUN, AS DOES THE KITCHEN. THE KITCHEN HAS AN ABUNDANCE OF CABINET SPACE. ALL KITCHEN APPLIANCES WERE PURCHASED FEBRUARY 2022, ROOF SHINGLED IN 2022, WITH 50# SHINGLES. INGROUND TERMITE TREATMENT ALL AROUND THE HOME (TRANSFERABLE TO NEW OWNER AND PAID BY NEW OWNER), ACCORDING TO THE SELLERS. PROPERTY HAS A WELL IN REAR CORNER OF PROPERTY THAT CAN BE RUN BY A GENERATOR (not included), IN CASE OF POWER FAILURE. THE AEROBIC SEPTIC SYSTEM HAS A WARNING LIGHT THAT GOES ON WHEN THERE IS TROUBLE OR THE TANK NEEDS TO BE PUMPED. PUBLIC WATER. THERE ARE HURRICANE SHUTTERS FOR THE WHOLE HOUSE, INCLUDING THE SLIDING DOORS AND FRENCH DOORS, STORED IN THE GARAGE (NONE FOR FRONT DOOR). THE GARAGE HAS A HURRICANE DOOR AS WELL AS SLIDING SCREEN DOORS. MAYBE ROOM ON THE LANAI FOR A HOT TUB..!!
Source: STELLAR #N6136205
Financials
Source: Public records
Source: STELLAR #N6136205
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.