507 Patton Loop Bartow, FL 33830
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About this home
Welcome to 507 Patton Loop, where charm meets smart living in the heart of Liberty Ridge. This Lennar NEXTGEN home offers an attached in-law suite with its own laundry, kitchenette, and garage access! Perfect for accommodating family, guests, or passive rental income. Built in 2021, this thoughtfully designed 3-bedroom, 3-bath home isn’t just move-in ready—it’s live-in-and-love-it ready! Pull into the driveway, admire the tastefully manicured landscaping, and you’ll instantly feel the pride of ownership. The covered front porch invites you to slow down and stay awhile. Inside, the open layout is filled with natural light and high ceilings. The kitchen shines with stone countertops, stainless steel appliances, and plenty of space to gather. The luxurious primary suite offers privacy and comfort with a spacious bathroom and ample storage. Modern living is made easy with smart home features, double-pane windows, and solar panels that keep energy bills in check! The fenced backyard features a screened in and covered patio, making the space ready for pets, play, or your personal touch. Additionally, the home is conveniently located just minutes from the new Polk Parkway extension which will allow for an easy commute to Tampa or Olando. This community offers a low HOA and NO CDD, giving you the community feel at an affordable price. If you’re looking for something that just feels right—stylish, practical, and welcoming—you’ll want to see this one in person! Ask about the low assumable VA rate and schedule your showing today!
Source: STELLAR #L4954935
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.