8520 TIDEWATER TRL, Tampa, FL 33619
One or more photo(s) has been virtually staged. Let’s make this spacious 4-bed, 2-bath your new home! This magnificent residence features a roof that was updated five years ago, ensuring a strong and secure shelter. Enjoy the brilliance of brand-new windows that bathe every room in natural light. The cutting-edge air conditioning system, paired with all-new ductwork, guarantees optimal climate control for year-round comfort. And you will never have to worry again about your electrical bill, as for the next 23 years you will have a steady bill of $185.82/month, regardless of the inflation, due to the installation of Solar Panels. After all, this is the Sunshine State! The Solar Panel Assumable Loan has its maturity date on 3/5/47, and the remaining balance is $40,271.73. The expansive open kitchen boasts brand-new appliances and seamlessly overlooks a generously sized living room, highlighted by a uniquely designed fireplace. Adding to the home's appeal is a versatile bonus room, perfect for an office or any other purpose that suits your needs. For added security and convenience, the property is equipped with Smart Cameras and a Security System, providing peace of mind. Step outside to discover a splendid concrete patio, installed in May 2023, ideal for gatherings. The lush, vibrant sod, meticulously laid in June 2023, creates a verdant oasis that enhances your outdoor experience. Additional features include gutters, installed in May 2022, and a spacious new shed for ample storage. The hurricane shutters, added in 2022, ensure readiness for any storm. This remarkable residence blends modern amenities with timeless elegance, offering a perfect harmony of style and functionality. Don’t miss the chance to make this exceptional house your home.
You may be able to put down less than the total down payment amount of $33,656 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: #t3552904