7101 Scenic Pl, Lakeland, FL 33810
3 beds · 2 baths · 1,428 sqft
New full roof replacement in April 2024 with transferrable (one-time) 10-year workmanship warranty from Westfall Roofing. A new AC was installed in April 2024 with a transferrable warranty. Additional updates include a new drain field in 2022, hot water heater replaced in 2021, all windows were replaced in 2010 with a lifetime warranty. Enjoy ultimate privacy with the home located at the end of a cul-de-sac with no traffic or neighbors on one side. Situated on an oversized lot, not in a flood zone, with ample front and back yard space to enjoy. Experience a split bedroom floor plan with plenty of natural lighting throughout, a wood-burning fireplace, space for a dining room off the kitchen, and a dedicated laundry room off the opposite side of the kitchen. Indulge in peaceful mornings and evenings on the large screened back porch with access to the dining or laundry room. A utility sink and workspace are located inside the two-car garage.
Source: STELLAR #t3523005
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #t3523005
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #t3523005
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.