1908 SW 12th Ter Cape Coral, FL 33991
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About this home
***ASSUMABLE 2.625% MORTGAGE!!*** Welcome to this beautifully maintained 3-bedroom, 2-bathroom home in Cape Coral offering 1,522 square feet of comfortable, one-story living—with no HOA and no flood zone concerns. Significant updates have already been done for you: a new roof (2024), new water heater, new refrigerator, new microwave, and accordion storm shutters installed in 2022 on every window and around the lanai. These shutters provide strong, reliable protection during storms, are easy to operate, and add peace of mind without the hassle of traditional panels. The home features a bright, open layout that creates a warm and inviting atmosphere. The eat-in kitchen is ideal for cooking and gathering, offering a center island, breakfast bar, new appliances, and ample storage. The dining area flows seamlessly into the spacious living room, which has been freshly painted and is perfect for both relaxing and entertaining. Enjoy the outdoors from the screened-in front porch, offering a charming and shaded welcome to guests. A split bedroom layout ensures privacy, with the primary suite separated from the two additional bedrooms. The primary suite includes a walk-in closet and a private ensuite with a walk-in shower. The secondary bedrooms share a full bathroom. Additional conveniences include an in-house laundry room with washer and dryer, sliding glass doors leading to a covered lanai, and a fully fenced backyard. The lanai is protected by the same accordion shutters, providing extra shelter during severe weather. A sprinkler system in both the front and back yards helps keep your landscaping green and healthy. The 2-car attached garage adds even more functionality and storage. Situated on a street that remains elevated and dry even during heavy rains, this home offers long-term confidence and comfort. With easy access to shopping, dining, and schools, this move-in-ready home checks every box in a desirable Cape Coral location.
Source: FORTMYERS #2025000742
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.