2819 47th St E Palmetto, FL 34221
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About this home
**Lakefront Living with a Rare In-Law Suite in Sugar Mill Lakes!** Welcome to this beautifully maintained lakefront home in the desirable community of Sugar Mill Lakes, offering a rare and thoughtfully designed in-law suite with its own private exterior entrance. The separate screened porch leads to a spacious living area, full bedroom, and a functional kitchenette—perfect for extended family, guests, or multigenerational living. Inside, you'll find tasteful finishes throughout, including ceramic tile in all main living areas and cozy carpeting in the bedrooms and in-law quarters. Soaring ceilings and a tray ceiling in the great room enhance the open, airy feel of the home. The entryway opens to a flexible space ideal for use as a den, dining room, or home office, seamlessly flowing into the open-concept great room, kitchen, and dining area. Enjoy serene lake views from your backyard—a peaceful, tranquil setting surrounded by lush landscaping and a generously sized yard. Sugar Mill Lakes is known for its larger lot sizes and a strong sense of community, featuring a park with playground, tennis/basketball court, picnic area, and expansive greenbelt space. Notable updates include a brand-new roof (2025), and a recently painted exterior. Solar panels will be fully paid off at closing, allowing the new owner to enjoy immediate energy savings. The Seller is also offering a Buyer credit toward closing costs, restoring the third bedroom wall, or other preferences. **This is a rare gem—homes like this don’t come around often.** Schedule your showing today and experience the lifestyle and flexibility this exceptional property offers! **Rare to have a 3 car garage AND a spacious lot** SEE THIS HOME SOON!!
Source: STELLAR #A4657840
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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.