3606 NW 47th Ln Cape Coral, FL 33993
Your savings
About this home
While New Construction Shrinks Rooms, This One Actually Makes Sense. You've toured the new builds. Tiny bedrooms that barely fit a bed. Living rooms with no logical place for a TV. Kitchens where two people cooking feels like a crowd. They're cutting corners on space to maximize profit, and you're paying new-construction prices for layouts that don't work. This is different. Built by Mercedes Homes in 2006—back when builders weren't in a race to see how small they could make rooms—this 2,237 square foot home in NW Cape Coral was designed by people who understood how families actually live. Vaulted ceilings throughout give it that estate home feel the moment you walk in. Rooms that are actually room-sized. Walls where you can hang a TV without an engineering degree. The family room is where you'll understand why this home works and new construction doesn't. It's big, open, and already wired for surround sound—because back in 2006, Mercedes Homes actually thought about how people live. There's a logical place for your TV. Room for a sectional that fits your whole family. Space to move without everyone sitting on top of each other. Vaulted ceilings make it feel even more expansive. Here's the best part: it's been completely renovated to like-new condition. New roof. Fresh paint inside and out. Every light fixture, every fan, every plumbing fixture replaced. All new stainless appliances and disposal. The garage floor was refinished. It's been fully inspected with everything repaired or replaced. You're getting the quality and space of a well-built home with the condition of new construction, priced at $385,000—without the premium price or cramped floor plan. The kitchen makes sense. Wood cabinets, granite counters, tile backsplash, and actual counter space to work with. Breakfast nook for everyday meals, formal dining room for when it matters. Master suite with garden tub, separate shower, and closets you can walk into. Four real bedrooms—not "bedrooms" where you're choosing between a bed and a dresser. Room for growing families, blended families, parents moving in, or just having an actual guest room and home office. The flex room gives you options: den, office, workout room, playroom, craft space—whatever your life needs. Long screened lanai for Florida living. Pool bath already in place with plenty of room to add a pool when you're ready. And at a quarter-acre, you've got a proper yard without signing up for weekend landscaping marathons. This is NW Cape Coral where you get space and privacy without feeling isolated. Mercedes Homes built it right. We brought it to like-new condition. Now it's ready for someone who's tired of compromising on space just to get "new." Come see why 2,237 square feet from 2006 feels bigger and works better than 2,500 square feet built last month.
Source: FORTMYERS #225078899
Loan details
Neighborhood
45-day close guarantee
Close stress-free in 45 days, handled start to finish by Roam.
Roam Price Match
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.