2649 SW 31st Ln Cape Coral, FL 33914
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About this home
A Home That Stands Apart with an ASSUMABLE MORTGAGE at 2.25%! This property has been thoughtfully updated in 2023, blending high quality finishes with long lasting improvements. The first floor is finished with Italian tile while the entire second story carries a light, beach style ceramic wood flooring that gives the home a bright and inviting feel. The kitchen and bathrooms have all been upgraded with quartz countertops, new cabinetry, and designer sinks. Two of the three bathrooms have been completely redone and the main bath offers a true spa experience. Fresh paint inside and out creates a clean modern look. Every practical upgrade has been addressed. The roof carries a 15 year color warranty. All windows, doors, and garage doors are hurricane rated. A whole home Generac generator with an in ground propane tank is serviced yearly, as are the air conditioning units. The home also includes blown in attic insulation and a water filtration system with sediment removal both outside and under the kitchen sink. Outdoor living is a highlight. The lanai has all new landscape view screening and the pool has been resurfaced with a newer pump. The driveway has been retiled, the dock and lift are new, and the yard has been landscaped with a new fence in place. The Viking appliance package stays with the home along with the washer and dryer, garage refrigerator and freezer, and the lanai bar table with stools. A gas line has also been run to the garage for a future pool heater replacement. This home has been updated with care and attention to detail, giving you peace of mind and a lifestyle ready to enjoy from the day you move in.
Source: FORTMYERS #2025011065
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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.