402 Terranova St Winter Haven, FL 33884
Your savings
About this home
**Closing Cost assistance, Brand New Roof**Welcome to 402 Terranova Street in Winter Haven, FL! This beautifully updated 4-bedroom, 3-bath pool home offers the perfect blend of comfort, style, and convenience. Nestled in the desirable gated community of Terranova, this residence sits on a quarter-acre lot—ideal for entertaining, outdoor fun, or simply enjoying the Florida sunshine. Step inside to discover a captivating open layout filled with natural light, creating a seamless flow between the living, dining, and kitchen areas. The modern kitchen features updated stainless-steel appliances, sleek finishes, and plenty of counter space for preparing meals and hosting gatherings. Outside, a screened-in pool provides a private oasis for year-round relaxation, while the spacious backyard offers room for family activities or weekend get-togethers. The home’s thoughtful design includes split bedrooms, offering privacy and flexibility for guests, home offices, or multi-generational living. Located just minutes from major highways, shopping centers, popular eateries, and LEGOLAND Florida, this property combines the best of suburban tranquility with easy access to Central Florida attractions. Whether you’re seeking a full-time residence or a vacation retreat, this home delivers the lifestyle you’ve been looking for.
Source: STELLAR #L4956005
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.