500 53rd St S Saint Petersburg, FL 33707
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About this home
Welcome to 500 53rd Street South in the heart of St. Petersburg! This charming 1926 Craftsman bungalow blends timeless character with thoughtful updates, offering 2,226 square feet of living space on a spacious quarter-acre lot. The first floor is bright and inviting, beginning with a welcoming foyer that flows into a large living room with an electric fireplace, a sunroom perfect for multiple uses, and a beautifully connected kitchen and dining room. A dedicated laundry room and side entry space make for an ideal mudroom, while a convenient half bath adds functionality. Upstairs, you’ll find four generously sized bedrooms and a full updated bathroom, while the attic offers soaring ceilings and incredible space for storage or the potential to be converted into additional living area. Major updates include a brand-new roof (2024), two AC units (2018 and 2019), updated exterior siding, and a freshly painted exterior in 2024, all contributing to the home’s strong curb appeal. The backyard is fully enclosed with a new white vinyl fence and features a pergola with a half-covered area and stunning pavers ideal for entertaining, while alley access, a large parking pad, and double gate entry provide plenty of room for multiple vehicles, recreational toys, or even an RV. The property is also ADU-approved by the city of St. Petersburg, offering exciting potential for a detached unit or additional living space. Located just minutes from downtown Gulfport’s eclectic shops, dining, and art scene, less than 15 minutes from the Gulf beaches, and a short drive to vibrant downtown St. Pete, this home perfectly combines vintage charm, modern updates, and an unbeatable location—schedule your private showing today!
Source: STELLAR #TB8433511
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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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