7420 E Gospel Island Rd, Inverness, FL 34450
3 beds · 2 baths · 1,704 sqft sqft
This is a peaceful waterfront retreat situated in Inverness, Florida, just a couple of miles from downtown Inverness. This home is on Lake Pocono/Freds lake. Great Lake for fishing, kayaking and small boats. Pulling into the front through the gate you will notice a nicely manicured yard. New 2024 carport. Front porch is great for early mornings with coffee. Open living space is tiled and has a wood burning fireplace. Kitchen is bright with natural lighting offered by a skylight. Granite countertops and wood cabinets, some with lights inside and even a mini fridge in the island for your extra beverages. This is a split plan home with decent sized guest bedrooms and built-in closets. The primary bedroom has an abundance of room and lots of closet space. Inside laundry room or use a pantry for all your extra kitchen items. The Florida room is a perfect space to turn into a great sitting room or even an office so you can overlook the backyard view of the lake and the gorgeous oaks that are out there. Beautiful pavers occupy the patio outside where you can spend all your time grilling out, entertaining, reading a book or just relaxing and enjoying the view. A 12 x 14 shed is perfect for all your extra yard equipment, etc. There is also a small dock to tie your boat up too. Get it today.
Source: STELLAR #om689843
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #om689843
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: #om689843
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.