7720 Chapel Ave, Port Richey, FL 34668
2 beds · 2 baths · 1,793 sqft sqft
Huge Price Reduction!!!! Motivated Seller! This charming 2-bedroom, 2-bath home is perfectly situated just off the Cotee River and minutes from downtown New Port Richey. The open-concept dining and kitchen area features stainless steel appliances, including a gas stove. An upgraded dual-pane all-weather slider leads to a spacious, enclosed lanai, and beyond that, a newer swimming pool surrounded by a large wood deck. The backyard is an entertainer's dream, complete with beautiful trees, a fire pit, and a striking cactus, all within a fenced area for added privacy. A newer custom shed provides ample storage and could easily be transformed into a she shed. Inside, tile floors grace the first level, and the living room boasts a cozy wood-burning fireplace. The master suite is conveniently located on the first floor and includes a recently remodeled bathroom with quartz countertops, upgraded vanities, and a large walk-in closet with shelves. The luxurious shower features floor-to-ceiling tile. Upstairs, you'll find a spacious second bedroom and a full, remodeled bathroom with granite countertops and upgraded cabinets. There's also a partially finished room that could serve as a den, study, or additional storage. The roof was replaced 1 year ago. The AC is approx. 4 yrs old w/ UV light, water tank under 2 yrs old! This home has a ring doorbell with added cameras and lights. Located just a block from the Cotee River and a half mile from the public boat ramp, this home offers both convenience and charm. With no deed restrictions, public water and sewer, and downtown New Port Richey just a short stroll away, this property is ideal for a vibrant lifestyle. The seller says her home has never flooded!
Source: STELLAR #w7868198
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #w7868198
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: #w7868198
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