1804 SW 38th Ter Cape Coral, FL 33914
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About this home
Presenting this beautiful home in Southwest Cape Coral, featuring three bedrooms, two bathrooms, and a two-car garage. This tastefully updated residence offers ample space for a pool and includes several recent upgrades. Key features include: * **Newer Roof (2021)** * **Remodeled Kitchen:** Boasts stainless steel appliances, 42" shaker-style cabinets, spectacularly spacious quartz counters, a pantry, a breakfast nook, and a counter bar that opens to the living area. * **Newer A/C System** * **Newer Ceramic Tile Flooring:** Flows seamlessly throughout the home and lanai. * **Remodeled Bathrooms** * **Outdoor Living:** A dining area that opens through French doors to an under-truss, screened lanai and an oversized screened patio. * **Master Suite:** Features a tray ceiling and pocket doors leading to a master bath with dual sinks, a private shower, and a commode. * **Additional Amenities:** Interior laundry room, screened front entry, and tropical landscaping. The home also includes an appliance warranty for added peace of mind
Source: FORTMYERS #225074884
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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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