7705 S Desoto St Tampa, FL 33616
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About this home
Welcome to Port Tampa! This newer portion of a historic city was built from 2009-2013, allowing the ground to be built up and these homes to sit high and dry during the 2024 storms. This one level home is move-in ready with its fresh paint throughout the interior, new carpet, and new roof. Two of the bedrooms sit at the front of the home with the primary tucked in the back. The primary bedroom has a large walk-in closet and en-suite bath. The covered and screened-in back porch allows you to enjoy your backyard bug and rain-free. Near the end of a dead-end street, you have little traffic in this amazing neighborhood. It is well lit with streetlights and sidewalks. You'll find a lot of dog walkers and joggers in this active community. This home is a few minutes from the front gates of MacDill Air Force Base, 10 minutes to Gandy Boulevard, and only 35 minutes to St. Pete Beach. Enjoy the comforts of a wonderful neighborhood while being minutes from all Tampa and our neighboring beaches have to offer.
Source: STELLAR #TB8411584
Loan details
Neighborhood
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Close stress-free in 45 days, handled start to finish by Roam.
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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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