7438 Banbury Ter, Port Charlotte, FL 33981
2 beds · 2 baths · 1,369 sqft
Welcome to your perfect retreat! This 2-bedroom, 2-bathroom home offers an inviting layout, modern upgrades, and exceptional features for comfortable living and entertaining. With a spacious 2-car garage and desirable location, this property is a must-see. The living room greets you with a large bay window that fills the space with natural light and cathedral ceilings that create an open, airy feel. Tile flooring flows through the main living areas and the primary bedroom, offering both style and durability. The kitchen is a chef's delight with Corian countertops, shaker-style cabinets, a stamped ceiling, tile backsplash, and a convenient breakfast bar. The primary suite is a private retreat featuring sliding glass doors leading to the screened-in lanai, a large walk-in closet, and an updated ensuite bathroom. The guest bedroom, with cozy carpeting, is conveniently located near the guest bathroom, which features a tub/shower combo. Practical features include an indoor laundry room, a roof replaced in 2021, an AC system updated in 2020, and a water heater also replaced in 2020, ensuring peace of mind for years to come. Step outside to enjoy the screened-in lanai and sparkling pool, perfect for relaxing or entertaining. The well-maintained outdoor space offers endless possibilities for Florida living at its finest. Don't miss this opportunity to make this beautiful home your own—schedule your showing today!
Source: STELLAR #D6140252
Financials
Source: STELLAR #D6140252
Source: Public records
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%. 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.
Other resourcesWhat 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.