984 Chesapeake Bay Ct, Naples, FL 34120
3 beds · 2 baths · 2,262 sqft
Step into this beautifully designed 3-bedroom, 2-bathroom home offering 1,870 square feet of inviting living space in sought-after Waterways at Naples. A grand French door entry welcomes you into the foyer, where a formal sitting room and formal dining area set the stage for elegant entertaining. The home boasts modern plank tile flooring throughout, with plush carpeting in the bedrooms for added comfort. The cozy living room flows seamlessly into a well-appointed kitchen featuring granite countertops, stainless steel appliances, and a breakfast bar. The spacious primary suite is a private retreat, complete with a tray ceiling, ensuite bath with dual vanities, a soaking tub, and a glass-enclosed shower. A large laundry room offers additional storage and a utility sink for convenience. Step outside to the screened lanai, where a sparkling pool overlooks stunning lake views. The Southern rear exposure provides beautiful sunshine throughout the day, while the fenced yard ensures privacy. Located in the gated Waterways at Naples, residents enjoy low HOA fees and access to exceptional amenities, including a clubhouse, pool, basketball and tennis courts, volleyball, BBQ area, park, and boat storage. With 150 acres of freshwater lakes, this community is perfect for those who love waterfront living. Don’t miss the opportunity to call this lakefront retreat home!
Source: FORTMYERS #225025464
Financials
Source: Public records
Source: FORTMYERS #225025464
To qualify, you must meet the current FHA or VA 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.