940 Fenton Ln Apt 7 Unit 7 Lakeland, FL 33809
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About this home
***LOCATION***LOCATION***LOCATION*** VA ASSUMABLE LOAN UP TO $190,000 AT 3.375% INTEREST RATE FOR CURRENT LENDER QUALIFIED BUYERS!!! Conveniently located less than 2 miles off of I-4 between Tampa and Orlando and minutes from medical complexes, shopping and Lakeland Regional Hospital, this condo is just waiting for you and your personal touches to make this little gem shine! Everything is just a short drive or walk away from this location with Douglas M Cook park located across the street which includes walking paths, basketball and football facilities AND a dog park for your 4 legged friends! This condo offers TWO PRIMARY bedrooms with en suite bathrooms and walk in closets!!! That's right! TWO PRIMARY BEDROOMS WITH EN SUITE BATHROOMS!!! One of the bedrooms is conveniently located downstairs off of the main living area and the second bedroom is located upstairs along with a loft! This condo truly is designed as a split floor plan with two separate living areas AND two separate primary bedrooms with en suite bathrooms and walk in closets! Enter this condo through a gated, charming courtyard in to the main living area. Directly to your right is the first generously sized bedroom with walk in closet and vanity. Continue through the door off of the vanity and you will find a bathroom featuring a tub/shower combination and a single vanity. When entering the home, if you continue straight through the great room, you will find the dining room/kitchen area and through sliding glass doors, a lovely sunroom that can be repurposed for any type of hobby or used for an office/den/library. This area is air conditioned and offers plenty of natural light from the windows across the back. The kitchen offers plenty of counter and cabinet space and all appliances are included! Don't miss the "Harry Potter" closet underneath the stairs which offers addiitional storage space. Upstairs, this condo features a loft living area with sliding glass doors on to the balcony and the second primary bedroom with a vanity that includes two sinks and a separate bathroom area featuring a tub/shower combination. There is also a walk in closet off of the vanity area. Although this condo needs cosmetic improvements, the roof was replaced in 2020, the hot water heater was replaced in 2019 and the a/c unit was replaced in 2018. Don't miss the opportunity to live in the middle of all that Lakeland has to offer and just minutes to the charming downtown districts of Lakeland. Schedule private showing today!
Source: STELLAR #TB8391636
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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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