1026 Montgomery Ln Polk City, FL 33868
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About this home
Tucked between Auburndale and Polk City, Auburn Cove blends outdoor lifestyle and convenience. Stroll the neighborhood park with its walking path, picnic tables, benches, and open playfield. Let the dogs run at the dog park, or hop on the Auburndale TECO Trail with direct neighborhood access. With I-4 only two miles away, you’ll enjoy seamless travel to Orlando, Tampa, or Lakeland while keeping you close to local shopping, dining, and recreation. Step inside to experience the 2022 Highland Homes “Shelby” floor plan, thoughtfully designed for today’s lifestyle. The spacious great room showcases an inviting hub for entertaining or quiet nights in, anchored by a chef-inspired kitchen with a large center island, abundant cabinets and counter space, and a 6x7 walk-in pantry. An adjoining dining area brings everyone together, and sliding glass doors lead to the 10x15 screened lanai, ideal for relaxing or enjoying backyard gatherings. The primary suite reveals a retreat with double-door entry, tray ceiling, and 6x7 walk-in wardrobe. The en-suite bath features dual vanities, a tile walk-in shower, private water closet, and an extra linen closet for added storage. Two of the secondary bedrooms are joined by a Jack-and-Jill bath with dual sinks, linen storage, and a tile tub/shower complete with a built-in bench/shelf, while the fourth bedroom provides flexibility for a home office or guest space. Additional highlights include a guest powder room off the foyer and an inside laundry room with counter space for folding, added storage, and a convenient drop zone for bags, backpacks, or shoes. Located near the sought out Berkley Charter School and Florida Polytechnic University, this home combines thoughtful design, modern finishes, and unbeatable location – ready to fit your lifestyle in the heart of Central Florida.
Source: STELLAR #P4936511
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FAQs
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.
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.
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.
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.
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 “Save search” 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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
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