3225 Oakland Rd N Lakeland, FL 33801
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About this home
Short Sale. Hurry and visit this home that checks off so many wants and needs of todays buyers! This remodeled 3 bedroom (& possibly more), 2 bathroom home had a variety of updates over the last 3 years including a new roof, A/C (still currently under warranty), laminate waterproof flooring throughout the home, new ceiling fan in the living room (offering vaulted ceilings) and in the spacious master bedroom with a large walk-in closet along with a completely redone master bath which includes double sinks and an oversized, tiled, walk-in shower. Be sure to check out the completely remodeled kitchen with granite countertops, beautiful tiled backsplash, newer stainless steel appliances, and a huge detached buffet-style counter with plenty of cabinet and counter space. The kitchen connects with a space that could act as a dining room for plenty of family/guests or act as an attached eating area, perfect for entertaining. The remaining bedrooms are perfect for extra living space or even an office area. The hall bathroom is complete with tile flooring, dual sinks, and a tiled shower/bathtub combination. In addition to the main living area, you will also find a large, back bonus area with its own mini-split A/C unit, perfect for an extra living room space, additional bedroom or even a movie room! The home also features an oversized, 2 CAR detached GARAGE with dimensions of 20 FEET WIDE x 35 FEET LONG TO SATISFY ANY CAR AND/OR BOAT ENTHUSIAST! ROOM for SHOP & WORKSPACE in GARAGE! Satisfy any privacy needs by enjoying the nearly .5 acre, fully-fenced backyard to allow your pets to run, or make a large garden space or store another boat or an RV or both. Come and see for yourself as there are many more updates/amenities than listed, including the over 2200 sq ft in the home. Only minutes away from convenient shopping and local restaurants. This is a pre-approved short sale - was in contract with a buyer and walked due to home being a combo manufactured / single family residential - buyer to fully investigate to their full satisfaction. County says SFR.
Source: STELLAR #TB8305506
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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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