7030 12TH CT E, Sarasota, FL 34243
Welcome to your dream home! This stunning 3-bedroom, 2-bathroom residence offers a perfect blend of comfort and style with a desirable split floor plan, ideal for both privacy and convenience. Step into the spacious living area, enhanced by soaring vaulted ceilings that create an open, airy atmosphere. The heart of the home is the large kitchen, featuring elegant granite countertops and ample space for culinary creativity. The adjacent dining area provides a cozy setting for family meals or entertaining guests. Assumable FHA loan with a 4.5 rate! New AC in 2022. New Roof will be installed prior to closing. Nestled on nearly a quarter-acre lot, this property boasts mature trees that provide shade, beauty, and a sense of tranquility. The expansive yard offers plenty of room for outdoor activities, gardening, or simply enjoying the serene surroundings. Located in a prime spot, this home is perfect for those who love to be close to the action. You'll find yourself just a short drive away from the vibrant events in Bradenton and Sarasota, as well as some of Florida's most beautiful public beaches. Whether you're hosting a gathering or heading out for a day of sun and sand, this home offers the perfect base for enjoying the best of the Gulf Coast lifestyle. Don't miss the opportunity to make this exceptional property your own!
You may be able to put down less than the total down payment amount of $161,848 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: #a4620280