2556 Masterpiece Rd Lake Wales, FL 33898
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About this home
This most attractive home sits on almost 3/4 of an acre and is completely fenced front and back. The inside of the home has been lovingly cared for and has about $20,000. worth of upgrades. Some of the upgrades include new flooring, new hurricane strength windows in the Florida room, a new front door and a remote controlled screen that rolls up and down for the garage door. The roof was replaced in 2017 and the water heater in 2024. The owner also added an outdoor shower for those hot summer days of mowing the grass. The kitchen has really nice kitchen cabinetry and the Florida room is bright and cheerful with at least 8 windows and a side door exit. There is also a half bath in the garage and the shelving and upper rack stays. There is a solar system on the home with a low monthly payment to be assumed by a new buyer. Attractions that are close to this home are the Bok Tower Gardens, The Lake Wales History Museum, recreation opportunities at Tiger Creek Preserve and the large western-themed ranch resort, Westgate River Ranch Resort. There is also Lake Kissimmee State Park. You are also only about 32 miles from Walt Disney World. Make your appointment today!! A $2,200 riding lawn mower and a brand new $500. shed for the backyard (has to be assembled) is included in the price of the home.
Source: STELLAR #S5133837
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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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