823 N LAKE REEDY BLVD, Frostproof, FL 33843
Welcome to Paradise! This beautiful 3 bed, 2 bath, 2 car garage home located on over 1 acre of cleared lake front lot. Wake up every morning with the beautiful views of Lake Reedy right from your kitchen, living area, and primary bedroom. Inside you will find an open concept layout. Starting with a beautiful newly renovated kitchen. Kitchen is equipped with wood cabinets, stainless-steel appliances, granite countertops, cooktop, combo wall oven...oh wait there's more ... talk about a massive island ready for preparing meals and entertaining your guests. The living room and dining area have a perfect view of Lake Reedy. All 3 bedrooms have a beautiful view of the Lake. You have mangoes at your fingertips with a mature mango tree that produces sweet mangoes in your backyard. Outside you have a screened in back porch with fabulous views of Lake Reedy and your very own private dock. Dock has a sink for cleaning fish. This is perfect for early or night fishing...either way it's your very own dock to do what you wish, when you want. Lake Reedy is approximately 3800 acre bass fishing lake. Oh by the way, Lake Reedy is FAA approved for landing a sea plane! This is a must see...schedule your show today! *Electrical has been recently updated. *AC is less than 6 months old.
You may be able to put down less than the total down payment amount of $116,699 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #k4902592