8718 GAILLARD AVE, North Port, FL 34287
This adorable 2-bedroom single family home in popular North Port, Florida, is ready and waiting for you! It offers nearly 1200 square foot in air-conditioned living space, which includes the 18’ x 14’ enclosed rear patio. The home has seen some beautiful updates in the past few years, including ROOF, water heater, vinyl plank flooring in the main living areas and plush, padded carpeting in the bedrooms, a new washer and dryer, well pump, fencing with privacy blinds, fresh painting inside and out, and kitchen and bath updates. The home offers 2 spacious bedrooms, a 1.5 jack-and-jill bath that connects both the master bedroom and the main hallway, separate dining room, a 14x14 living room and kitchen with dinette area. There is a separate laundry / mudroom with access to the back yard, a 1-car garage and a shed out back. The home is in an X FLOOD ZONE so no flood insurance is required. The home is on PUBLIC WATER and PUBLIC SEWER and has a well to use for watering the lawn. The location is fabulous, with shops, restaurants, medical offices and golf just around the corner, and the Gulf of Mexico beaches less than 30 minutes away. You also are close to Warm Mineral Springs, Port Charlotte, Venice and easy access to I-75! This affordable darling home will not last; time to grab your spot in paradise!! Call to see it today.
You may be able to put down less than the total down payment amount of $66,896 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: #d6136266