321 Cleveland Ave Lehigh Acres, FL 33936
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About this home
This is a potential Short Sale - AS-IS. This expansive 5-Bedroom, 4-Bath Pool Home with Detached Building and Endless Possibilities located in the heart of Lehigh Acres. This impressive 5-bedroom, 4-bathroom home spans over 4,300 sq. ft. and sits on a generous 1/2-acre lot. With a spacious and flexible layout, a detached building, and plenty of outdoor space, this property offers a range of possibilities for living, working, and entertaining. The main home features a versatile floor plan with the option for an upstairs apartment, making it ideal for multi-generational living or rental income. The master suite includes a private hot tub room, creating a retreat-like space to relax and unwind. The expansive living areas connect seamlessly to a large covered lanai, which overlooks the inviting pool—perfect for hosting gatherings or enjoying quiet evenings outdoors. A standout feature is the detached building, fully equipped with electricity and plumbing. This additional structure is perfect for a workshop, studio, guest suite, or even a home business. It also includes an upstairs storage area, adding practicality and functionality. The property’s half-acre lot provides ample space for outdoor activities, gardening, or further customization. Whether you’re looking for room to grow, a space to work from home, or a property with rental potential, this home has it all. Don’t miss this opportunity to own a spacious, feature-packed home with room to personalize to your needs.
Source: FORTMYERS #224094847
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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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