Spacious 5BR/3.5BA home with a heated in-ground pool now available in sought-after Carefree North! Owned by the same family for more than 50 years, this truly unique property offers room for everyone both inside and out. The updated kitchen features newer appliances, a massive center island, and opens directly to a warm and inviting great room with a gas log fireplace - creating the perfect gathering space for family and friends. The main level also includes a flexible bonus room currently used as an office that could easily serve as a formal dining room, plus an additional oversized family room ideal for a media room, homeschool setup, playroom, or second living area. The vaulted sunroom overlooks the backyard oasis and provides beautiful views of the heated in-ground pool. Upstairs, you'll find a private apartment-style suite with its own separate entrance from the garage, featuring a large bedroom, full bath, bonus room, and separate HVAC system - ideal for adult children, guests, in-laws, or extended stays. Situated on nearly half an acre, the property includes an oversized mini barn, pool house, expansive deck, and added privacy with no rear neighbors to the north or east. Residents can also enjoy walking access to the Carefree clubhouse, tennis courts, and community pool. The side-load 3-car garage offers excellent space for hobbies, storage, or automotive projects and even includes an electric vehicle charger. With its incredible size, flexible layout, and resort-style outdoor amenities, this home is a rare opportunity in Carefree North - schedule your showing today!
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.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
