3716 SW Santa Barbara Pl Cape Coral, FL 33914
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About this home
Rare, functional, and spacious five-bedroom floorplan! Welcome to this amazing home, which boasts over 2400 sq. ft. of living space, with a great room floor plan perfect for entertaining a few or a crowd, and a kitchen featuring loads of cabinet space, including 42" upper cabinets with crown molding, stainless steel appliances, quartz countertops, a breakfast bar, and a walk-in pantry. The spacious master suite features an en-suite bathroom with separate dual sinks and vanities, soaking tub, tiled shower with glass entry, and a large walk-in closet and access to the covered lanai. The remaining bedrooms are split throughout the home, offering privacy for each bedroom. An additional full bathroom features dual sinks, a shower, and a tub combo. An additional half bath for guest use and a separate laundry room complete the interior. The exterior features a large covered lanai, fenced-in rear yard lined with trees for future shade, and a three-car garage. This home is centrally located off Santa Barbara Blvd, providing convenient access to shopping, major roadways, and the South Cape downtown district. This home may qualify for the FHA's $100 down program. HUD Case# 095-648229
Source: FORTMYERS #2025013565
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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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