3355 Elkcam Blvd Port Charlotte, FL 33952
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About this home
This spacious 1,877 square foot, 2-bedroom, 2-bathroom home with attached garage offers incredible potential and is ready for your personal touch! The large backyard features a relaxing spa and a generous concrete slab, providing ample space to park your boat, jet skis, or trailer. Upon entering, you'll be welcomed by an open-concept layout that creates a sense of space and comfort. The luxury vinyl plank flooring throughout much of the home ensures easy maintenance. While updates have been started in the kitchen, it's ready for a new owner to complete. The large eat-in kitchen boasts stainless steel appliances,all wood cabinets and spacious countertop space, a breakfast bar and is open to the living area. The master bedroom has attached bath with walk-in tile shower while the guest bedroom has its own full bathroom. The large great room with windows throughout, has been converted into a larger bedroom but can easily return to its original layout. The attached garage is deep and has the laundry space with washer, dryer and utility sink. Recent updates include a new roof (2018), AC with heat pump (2017), and hurricane impact windows (2008). Other highlights include tile flooring throughout, a spacious backyard with a wide driveway gate for convenient boat access, and a hot tub spa installed in 2014. With a little TLC, this home could be your perfect dream property!
Source: STELLAR #C7502569
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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.