4350 Timmerman Ave Lake Wales, FL 33859
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About this home
Don’t miss this opportunity to own a beautifully updated double-wide manufactured home situated on over an acre of land in Lake Wales. Now featuring a brand-new roof and a new A/C unit, this spacious home is truly move-in ready. Inside, you’ll find a generously sized master bedroom complete with a walk-in closet and a private en suite bathroom with dual sinks. The home also offers five additional bedrooms—each with its own closet—and three full bathrooms, making it perfect for large families or those in need of extra space. The kitchen has been renovated, and new modern flooring runs throughout the home. Fresh interior paint enhances the bright, welcoming atmosphere. A premium under-sink reverse osmosis water filtration system by Osmo Central Water Quality ensures clean, great-tasting water right from the tap. Additional features include an indoor laundry area with extra storage space for added convenience. Outside, the property offers ample parking with a six-car carport, plus an additional single-car carport. Two storage sheds provide plenty of room for tools, equipment, or workshop space. This unique property boasts an impressive variety of mature fruit and medicinal trees, as well as vibrant ornamental plants. You’ll find multiple varieties of mango, avocado, guava, pineapple, papaya, green lemon (lime), orange, cherry, star fruit, dragon fruit, melon, and cassava (yuca). It also includes gandules (pigeon peas) and yautía. For herbs and medicinal plants, the property features oregano brujo, several types of mint, recao (culantro), scallions, sweet peppers, ginger, and aloe vera (sábila). The lush landscaping is enhanced by beautiful flowers and trees such as hibiscus, beach roses (, orchids, and a stunning yellow flamboyant There are also 5 yellow Guayacán trees and 12 pink Guayacán trees, adding vibrant color and shade throughout the property. The property includes a 6,000-foot irrigation system with 22 water sprinklers, ensuring all vegetation remains healthy and lush. Additional features include a 5-ton air conditioning unit, a propane tank, potable water well, and much more.
Source: STELLAR #S5135428
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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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