7094 Kenwood Dr, North Port, FL 34287
2 beds · 2 baths · 1,906 sqft
This is what Florida living is all about. A nicely updated 1906sf 2BR 2BA with Office and Florida Room with panoramic views of the large pool installed in September 2024, which includes an over 1320sf cage with extra decking complete with Travertine tile! This home has 80 foot frontage on Big Slough with easy access to Myakka River, The Gulf, and beyond! There is also a 340sf dock where watching the brilliant sunsets is a must. A relaxed lifestyle is what you get here! The home has been nicely updated, with wood grain look porcelain tile planks throughout, sliders from most rooms to the pool. When you walk up to this lovely home, there is a beautiful oak tree in front, stonework facade and a large pavered parking area to store your boat or other toys! Heading through the screened entryway, you are greeted with an open floor plan, and that stunning view through to the rear! Casual living defines this home with the family room and dining room combo, kitchen with granite counters, wood cabinetry, a breakfast nook, all with that view! There is a split bedroom plan here, with the primary on one side with its walk-in closet, and updated bath, which connects to an office space where you can watch for the wildlife visiting the Slough! The secondary bath has also been updated, with a door leading out to the pool area, so you can access from the outside, as well. The secondary bedroom also has a walk-in closet and sliders leading out to the pool deck! The home boasts many ceiling fans allowing you to take advantage of breezes. There is, also, a mudroom/laundry room leading to the oversized two car garage. Here are just some of the updates these folks did since purchase: $135,000 pool, deck, and enclosure, New HVAC system AND ductwork including adding a duct to the Florida Room. Insulation in 2022, New Electric Panel 2024, washer/dryer 2021, Microwave 2025, Roof 2022, additional pavered parking pad 2023, re-seat the dock 2025, Exterior Paint 2025. The home has beautiful finishes and fixtures and will provide its new owners a relaxing place to enjoy the pool, sunsets, and everything we live in Florida for. Make your appointment to view this home with a WOW factor!
Source: STELLAR #TB8364950
Financials
Source: Public records
Source: STELLAR #TB8364950
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.