7431 Perennial Rd, North Port, FL 34291
3 beds · 2 baths · 1,382 sqft
GREAT OPPORTUNITY!!! HUGE PRICE ADJUSTMENT!!!!! Make it your own. NO FLOOD DAMAGE! Vacant on supra. 3 bedrooms, 2 baths and 2 car garage. NEW ROOF in 2022. New Samsung washer and dryer. Close proximity to schools. This home is located one street back just off of W Price. Convenient too many amenities such as shopping, golf and restaurants. You will be greeted upon entering to an open floor plan with split bedrooms and cathedral ceilings to the foyer and great room area. A convenient and functional kitchen is located to the left of the breakfast nook with ample light from the 3 windows looking out to the back yard. A separate utility room with new Samsung washer and dryer. All rooms are tiled. The Master Bedroom Ensuite has huge walk-in closet, garden tub, dual vanity sinks and separate enclosed toilet. On the opposite side of the home one finds 2 guest bedrooms with ample closet space and a guest bathroom nestled between. Via the sliding glass doors of the Great room, one can access the large back yard. Great for adding a pool or just entertaining. This home comes ready with hurricane shutters and is in an "X" flood zone. A Must See!!! Property is located close to Schools, Restaurants, Shopping, Golf, Water Park and other community parks.
Source: STELLAR #a4627796
Financials
Source: Public records
Source: STELLAR #a4627796
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.