3307 Miami Pl Bradenton, FL 34207
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About this home
**Charming Fixer-Upper in Bayshore Gardens** Discover the potential of this 3-bedroom, 2-bath home nestled in the highly sought-after community of Bayshore Gardens. This property offers a unique opportunity to create your dream home in an exceptional location, known for its friendly neighborhood, lush landscapes, and proximity to beautiful parks and waterways. Home suffered a house fire on January 27, 2024 due to unknown electrical issues. While the home has experienced fire and hurricane damage, its solid structure stands ready for extensive renovation. The spacious layout features three comfortable bedrooms, perfect for families or guests, and two bathrooms that can be redesigned to your taste. The living areas are filled with natural light, providing a warm and inviting atmosphere. The backyard space is ideal for outdoor gatherings and offers ample room for landscaping or recreational activities. With the right vision and effort, this home can be transformed into a stunning retreat that reflects your personal style. Don’t miss this chance to invest in a property with incredible potential in a prime location. Conveniently located to Bradenton Beach and Anna Maria Island. Whether you’re looking for a project to make your mark or a place to settle down, this home is waiting for your creative touch!
Source: STELLAR #A4656014
Loan details
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45-day close guarantee
Close stress-free in 45 days, handled start to finish by Roam.
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If you find a better price on any home, we’ll match it.
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.