7318 S KISSIMMEE ST, Tampa, FL 33616
3 Bed 2 Bath raised pool home with 2 car garage and a separate 1 Bed 1 bath ADU, in South Tampa. No rental restrictions. The property is positioned between MacDill AFB and Picnic Island Park, just south of The Salt Shack and Hula Bay. Easy drive to downtown Tampa or St Pete. Enjoy entertaining under the palm trees on the screened in pool deck and use the +/- 500qft studio for additional living space or a pool side party room. The over-sized saltwater pool was completed at the end of 2019 and features a deepwater bench, an auto cleaning system with dual pool pumps and timers, an oversized paver pool deck with dual seating areas and a huge screen enclosure. The large shallow area that slopes gently from 4 to 8 feet, making it comfortable for large gatherings. The ADU consists of a large open room with a 75' tv, 2 walls of windows overlooking the pool deck, a kitchenette with a full size fridge, and 3 piece bathroom. Upstairs you'll find more outdoor space in the large balcony off the main living area, upgraded lighting and plumbing fixtures, new hardware, fresh paint, and tile floors. The air ducts were professionally cleaned in 2022 and the HVAC was replaced in 2023. The kitchen offers great storage, a pantry, high-end stainless appliances, soft close drawers, and upgraded granite counter tops. The roof was replaced in 2019 with 30 year architectural shingles. Smart locks, a wifi thermostat, and ring camera system make it easy to control access to this property from a distance. The property shows well, every surface of this home has been cleaned, painted, repaired or replaced in the last 2 years. The 2-car garage was used as a home gym and could be converted back to garage space, or opened back up to double the size of the ADU. Current Flood Insurance is $1,555 per year. MLS# TB8300290 next door, is also for sale and can be purchase together at $1,100,000
You may be able to put down less than the total down payment amount of $142,455 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: #t3545233