7425 Terrace River Dr Temple Terrace, FL 33637
Your savings
About this home
One-of-a-Kind Mediterranean/Spanish-Style Riverfront Estate. Experience unmatched elegance and serene riverfront living in this Mediterranean/Spanish-style home, perfectly situated in the community of Terrace River. With panoramic views of the Hillsborough River and timeless architectural charm, this residence offers a rare blend of luxury, comfort, and convenience. Step through the grand foyer, where soaring ceilings create an immediate sense of space and sophistication. The inviting living room centers around a gas fireplace framed by custom built-in shelving, perfect for showcasing treasured décor. French doors open to a sprawling patio and private oversized pool, complete with a built-in outdoor kitchen, shower area, and unobstructed river views—an entertainer’s dream. The kitchen is both stylish and functional, featuring granite countertops, abundant cabinetry, stainless steel appliances, and a double oven ideal for preparing feasts for family and friends. Just steps away, the formal dining area offers an intimate yet elegant setting for dinner parties. The primary suite, located on the main level, boasts a spa-like en-suite bath and a large walk-in closet with custom shelving. Upstairs, each additional bedroom is a private retreat with its own walk-in closet and full bathroom. A versatile bonus room—perfect for a home office, hobby space, or game room—opens onto a rooftop patio. The fully finished basement provides even more possibilities, offering a built-in bar and ample space for a pool table, media room, or home theater. Practicality meets style with a spacious indoor laundry room featuring extra storage and direct exterior access. Conveniently located near the Seminole Hard Rock Casino, I-4, and I-275, this home offers quick access to downtown Tampa and premier shopping while maintaining a peaceful waterfront atmosphere. As a special perk, new Temple Terrace residents enjoy a complimentary three-month social membership to the Temple Terrace Golf & Country Club. This is more than a home—it’s a lifestyle.
Source: STELLAR #TB8415962
Loan details
Neighborhood
45-day close guarantee
Close stress-free in 45 days, handled start to finish by Roam.
Roam Price Match
If you find a better price on any home, we’ll match it.
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.