4506 62nd Ter E Bradenton, FL 34203
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About this home
One or more photo(s) has been virtually staged. Welcome to the gated community of Mandalay! This 2900 sqft pool home boasts four bedrooms, three bathrooms and a office all on one floor. Complete with a three car garage and epoxy floors for durability. As you enter the home the large foyer adds to the openness of the house. This well appointed home has crown molding, recessed lighting and plantation shutters throughout. The kitchen is truly the focal point of the home with a center island that measures 10 feet long by 4 feet wide perfect for entertaining, it also includes storage underneath. Granite counters, stainless appliances, a double oven and wine refrigerator all combine to make this an absolutely stunning kitchen. In the primary suite there are two separate walk in closets between the bedroom area and bathroom. The primary bathroom features a walk in shower along with a separate tub and double vanity with granite counters. This split plan house also features a fenced in back yard and a private pool with waterfall inside the screened lanai. This community is centrally located between Sarasota and Bradenton so it is easy to enjoy all that this area has to give! Plenty of room for those who enjoy entertaining! Located in Bradenton, this home offers proximity to various amenities and attractions. Enjoy leisurely strolls in nearby parks, perfect for outdoor family gatherings. Indulge in shopping and dining experiences at nearby UTC Mall, Downtown Sarasota or Downtown Bradenton. Let's not forget it's central location to the beautiful beaches.
Source: STELLAR #A4643817
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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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