718 Bay Esplanade, Clearwater Beach, FL 33767
2 beds · 2 baths · 1,132 sqft
This charming Beach Cottage is ready for its finishing touches! With only 777 steps to the beautiful North Clearwater Beach, this home offers what paradise is made of. After taking on water in Hurricane Helene, this home was immediately remediated by the owner, who is a Licensed Mold Remediation Specialist with a local licensed flood and mold restoration company. It features brand new 2025 UF waterproof wiring and a brand-new 2025 electrical panel with a transferable warranty! It also has a newer 2014 30-year Roof and newer A/C 2022, both with transferable warranties, and all new windows 2014. It has brand new 2025 sub-flooring and is ready for you to personalize it with your own touches. Situated on a 59' x 110' lot on Bay Esplanade, the location is prime, and the lot size is ample. Built up on a 3-ft pier, this home has never taken on any water until Hurricane Helene, and is very easy to elevate if a Buyer chooses. Elevating this home would provide beautiful 180-degree views of the Intracoastal. The inviting curb-appeal is ready to welcome you home at the end of each day. Relax on the spacious back deck (all new!) as the sun dips its way down each evening. The back yard is HUGE, with plenty of room to add a pool and STILL provide yard space for entertaining. A perfect bonus patio or grilling area is found on the left-side of the yard, and the landscaping is very easy to maintain. A large shed in the back yard remains with the home and is in great condition. Inside offers an open floorplan, beginning with an extensive, light and bright formal Family Room. A welcoming Living Room is next, with a perfectly placed wood-burning fireplace. The Dining Room is large enough for a generous table, and this open layout is sublime for hosting family events and gatherings. The Kitchen houses room for plenty of cabinetry and counterspace, and is designed for a gas stove, but can easily be switched to electric if desired. The driveway extends all the way to the back-side of the home, providing ample parking space. Not looking for a home to live in yourself? This home also makes an amazing investment opportunity! Surrounded by multi-million dollar homes, Clearwater's most prestigious beaches, restaurants, and the BEST of Florida living, this home has substantial rental potential! The Public Access to the Intracoastal is located only steps away, under a minute walk. Only a 5-minute walk to the North Clearwater Beach Access, an 8-minute walk to McKay Park, only a 25-minute drive to PIE Int'l Airport, about a 30-minute drive to Tampa Int'l Airport. Endless shopping and dining options. Renovate, elevate, or create something new!! This property is a canvas waiting for your personal touch, inspiring you to bring your vision to life and create the home of your dreams.
Source: STELLAR #TB8357786
Financials
Source: Public records
Source: STELLAR #TB8357786
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.