1217 NE 1st Pl Cape Coral, FL 33909
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About this home
HUGE PRICE REDUCTION!!!! Small but Mighty! Feeling so much larger than the stated measurements, this corner lot home is IDEAL for anyone in search of a starter home or investment property! Three bedrooms, two full bathrooms and a garage that has air conditioning! - previously used as extra living space! Plus....a large screened in lanai with a wall mounted TV and a built-in electric fireplace! But wait! There's more! Step into this fully privacy fenced-in back yard, and you are immediately wow'd with a sweet above-ground pool, complete with a deck for relaxing! But the fun doesn't stop there! You have your own wooded play area with swing-set, slides and fort, and there is a large concrete slab space for basketball, cornhole, grilling, picnic space, bike riding lessons - loads of options here! You also have an outside sandy firepit area for a night of campfires and s'mores! Large storage shed with shelves for safely placing your lawnmower, etc.! Step back inside to the spacious Great Room area with high ceilings to give you that extra-large feel. The Primary Bedroom is complete with its own en-suite and also sports a door to your screened-in lanai. Two more bedrooms and a full bath complete this home - but there is a surprise in one of the guest bedrooms! The owner built a loft bed with built-in stairs! Spoil someone with a built-in loft fort/bed, or owner will remove prior to closing - up to you! But.... I can promise you - you will love this fun built-in space! Located in the popular northeast Cape Coral area, you will find shopping, dining, schools and so much more within your easy drive. This home is affordable enough to start your home ownership goals yet comfortably sized! It has great income-producing potential and already has a tenant in place! The location is great! The corner lot gives loads of yard space, and the completely privacy fenced in back yard is perfect for kiddos and pets alike to safely play and run around!
Source: FORTMYERS #2025004110
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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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