7267 TEABERRY ST, Englewood, FL 34224
DISCOVER YOUR NEW HOME in this charming hamlet of Englewood, perfectly located to enjoy all that the Sunshine State has to offer. With quick access to Gulf Beaches, you'll also have plenty to explore in Punta Gorda, Peace River, Charlotte Harbor or watch the glorious Southwest Florida Sunsets at your local favorite beach restaurant. This beautiful property is situated on an oversized corner lot. Exterior features include: covered screened Lanai, an outside storage shed that provides extra space for your own workshop and tools. Full 2-Car Garage with Attic Storage. Interior Features: Spanish tile flooring for easy maintenance throughout the home. High ceilings create an airy and spacious atmosphere. Your updated kitchen is in the center of the home, boasting stone countertops, newer cabinets, and newer appliances—ideal for cooking and entertaining. This open floor plan ensures a seamless flow between living spaces. Sliding glass doors provide abundant natural light. Ceiling fans are installed in every room for added comfort. With this split bedroom plan, you'll have privacy with the primary suite separated from other bedrooms. The primary bedroom features on an ensuite bathroom plus a walk-in closet, for ample closet space. The front formal dining room can be used as a dining room or an adaptable flex space; an additional dinette area overlooks the back covered patio. Newer exterior paint and BRAND NEW ROOF (January 2023).** NO FLOOD INSURANCE REQUIRED. ** Close to Shopping, Golfing, Boating, Fishing, and Farmer’s Markets, this home offers everything you need to embrace the Florida lifestyle. DID WE MENTION THERE ARE ABSOLUTELY **NO** HOA's??? Do not miss out on this incredible opportunity!!
You may be able to put down less than the total down payment amount of $78,969 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: #u8246059
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.