4620 8th Ave NE Naples, FL 34120
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About this home
Looking for your private playground? Car enthusiast? This is a one of a kind, MUST SEE property! Sitting on 2.73 acres on a very private, short street, the home is 4800 sf under air with 5 bedrooms plus a media room, 4 full baths and 1 half bath. There is over 7000 sf of French pattern travertine tile throughout the home and lanai. The house boasts many upgraded features, such as a custom-built staircase, 25 ft. travertine fireplace, recessed mahogany tray ceilings, custom cabinetry, reverse osmosis system throughout, resort style pool with rockslide-too much to list! In addition to the main house, there is a large custom built, concrete block, detached garage and workshop. The workshop is a car lover's dream with vintage gas and oil signs, each telling a story of automotive history, meticulously preserved and displayed with custom mounts for maximum visual input. There is a moveable 2 car advantage lift, air-conditioned showroom as well as workshop with 60-gallon compressor, wall outlets and 30 ft. of custom aluminum counter tops. Fully fenced around entire property along with a 12' hedge and electric entry gates. Entire property has exterior lighting. This one must be seen to be truly appreciated. Owner also owns an adjoining house and 5 acre parcel behind this house - would be available for sale to any buyer looking for a family compound for maximum enjoyment.
Source: FORTMYERS #225019254
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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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