816 NE 32nd Ter, Cape Coral, FL 33909
4 beds · 3 baths · 2,191 sqft
PRICE REDUCTION! SELLER IS MOTIVATED. Welcome to home to 816 NE 32nd terrace, an ADAM'S HUME BUILT HOUSE, in beautiful Cape Coral. A NO FLOOD ZONE HOME! THAT IS RIGHT...FLOOD ZONE X. As you take in this well manicured corner property, you cant help but be reminded that you ARE in beautiful, tropical Florida as you glance at the SIX mature Royal Palms that flank the property. Situated approximately 20 mins from your Matlacha/Pine Island, in the NE quadrant of the Cape, this beautiful 4 bedroom, 3 bathroom home IS Florida from the moment you walk through the iconic Heron screened door at the entrance to the home. Once you enter the home, notice the warm colored and easy to care for ceramic tile flooring that is throughout the common areas of the home and baths. The foyer is grand enough to really make a decorating splash with your favorite art or family pictures. The dining area or flex space is to the right of the foyer with the kitchen just behind and a large cozy family room toward the back of the home. The home features a split floor plan with 3 bedrooms on the left side of the home and the primary suite located to the back and right of the home. The first bedroom has an ensuite bathroom that is a jack n jill entrance. This bathroom was partially remodeled in 2024. The THIRD BEDROOM is a MINI-PRIMARY with an ENSUITE BATHROOM. All bathrooms have upgraded granite countertops that match back to the kitchen. The large gourmet kitchen features granite countertops, a suite of Whirlpool stainless steel appliances, recently upgraded quieter dishwasher and reverse osmosis system under sink. There is an island and breakfast bar for added space to do whatever.... The laundry room is located just off the kitchen and YES the front loaders are staying! The primary suite is large enough to comfortably fit a king size bed, end tables and dressers. Double sinks in the bathroom and a larger soaking tub make this your get away oasis at home. French doors grant access to the screened in patio perfect for outdoor eats or a quiet book on a lounge chair while you breathe in your lush backyard complete with Floratam/St Augustine grass and a variety of additional palm trees which are maintained by the irrigation system. With North/South exposures, your house can stay cool on those bright, sunny days. Storage is not a problem here with walk-in closets in all bedrooms and ample space in the attic. Outside the home, a built-in security system surrounds conveys with EIGHT CAMERAS that feed to an app PLUS outdoor soffit lighting that wraps around the house for added security and ambiance. The home is completely outfitted with hurricane panel shutters that are stored in the garage. Home has a built-in, in-ground pest control system. A brand new roof was installed in 2023. DID I SAY NO HOA? NO HOA....AND FLOOD ZONE X!
Source: NABOR #224101279
Financials
Source: NABOR #224101279
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.
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