309 8th St N Dundee, FL 33838
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About this home
Lakefront Living with Flexible Layout – Ideal for Short-Term Rental, In-Law Suite, or Teen Retreat! NO HOA !! Welcome to this unique 4-bedroom, 2-bathroom lakefront home with serene views of Lake Ruth. What truly sets this property apart is its flexible floor plan: the primary bedroom and family room can be closed off to create a private 1-bedroom, 1-bathroom suite with a separate entrance. This versatile space is ideal for a short-term rental, a private in-law suite, or an independent retreat for teens. The main area of the home features 3 bedrooms and 1 bathroom, offering a comfortable and functional layout for everyday living. The rear suite adds a layer of flexibility that makes this property perfect for dual living arrangements or maximizing rental income. The updated kitchen is a true highlight, boasting stainless steel appliances, an induction cooktop, a dual oven with warming drawer, and elegant quartz countertops. Whether you’re cooking for family or entertaining guests, this space is designed to impress. Additional upgrades include a new roof installed in 2020 and a spacious back patio that offers peaceful lake views—ideal for relaxing mornings or evening gatherings. No HOA! With a strong, proven short-term rental history over the past six years and the potential to generate dual income, this property is more than a home—it’s an incredible investment opportunity. Located just minutes from downtown Dundee, with convenient access to shopping, restaurants, Legoland, and Highway 27, this home combines tranquil lakefront living with everyday convenience. Please note ~ The floor plan photo shows slight variations to the actual home, but still offers a good representation of the home’s overall layout.
Source: STELLAR #P4936351
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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.