6942 Rosemont Dr, Englewood, FL 34224
8 beds · 8 baths · 1,833 sqft
Investor Opportunity! This waterfront duplex presents a fantastic investment potential with one unit already leased and the other currently occupied by the seller. Each unit offers 2 bedrooms, 2 bathrooms, and a lanai, featuring clean and well-maintained interiors with fully equipped kitchens, wood cabinetry, and spacious storage rooms. The master bedrooms include en suite bathrooms, and both units have a welcoming front porch. Enjoy a generous backyard with scenic views of the waterway. New roof in 2023 and 8x10 storage shed added in 2024. NEW septic pump just installed! Freshly painted, new ceiling fans, ready to show! One side of the duplex is now VACANT! Located near additional waterways, pristine beaches, dining, shopping, and golf courses, this property is perfect for vacation rentals in Southwest Florida. It's also conveniently close to public parks with biking and walking trails, picnic areas, and boat ramps, providing easy access to various waterways, the Peace and Myakka Rivers, Charlotte Harbor, and the Gulf of Mexico. The peaceful neighborhood offers a tranquil atmosphere, yet all essential amenities are just around the corner.
Source: STELLAR #C7502061
Financials
Source: STELLAR #C7502061
Source: Public records
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%. 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.
Other resourcesWhat 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.
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