246 22nd Ave NE Saint Petersburg, FL 33704
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About this home
Don’t miss your opportunity to live in Historic Old Northeast, St Petersburg, just 2 blocks from Coffee Pot Bayou, but - NO DAMAGE FROM HURRICANES and NO FLOOD INSURANCE REQUIRED - this block-constructed home is in FEMA flood Zone X. Do you know that this part of 22nd Avenue is residential and only 2 lanes? Evenings are quiet and perfect for strolling through the Old Northeast and along the waterfront. Completely renovated and updated mid-century modern home, also with a new construction (built in 2018) 2 story addition which includes a light and bright sunroom on the 1st floor and a spacious 2nd floor en-suite 3rd bedroom/in-law suite/studio ‘apartment’ living area with its own mini-split central AC system - both spaces overlook a lush “English” style garden. You really must see the inside and fenced garden area to fully appreciate this well-maintained home. Nearly 2000 square feet of living space. 3-bedrooms, 3-full bathrooms, 1-car attached garage, fenced back yard, and circular brick paver driveway in front of the home. As soon as you step in the front door you are sure to be surprised and will appreciate the large, bright and open living area which includes the living room, kitchen, dining space, and separate sitting/reading area. The primary bedroom on the first level opens via French doors onto the spacious sunroom. Relax in this sunlit room, enjoy the quiet and view of a beautiful garden. And, there is still room for a pool. The 2nd story of the addition is perfect for working professionals who need a separate quiet space – or, if you are looking for income potential, this property qualifies for having a long-term rental unit (ADU, Accessory Dwelling Unit). Nothing to do now except move in. Clarification Note: County records indicate 1905sf of living space. Square footage of living space as provided by owner: 1933sf.
Source: STELLAR #TB8381370
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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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