** 2.75% FHA ASSUMABLE MORTGAGE ** Welcome to 10015 Randal Walk Street, a beautifully maintained 3 bedroom, 2.5 bathroom home located in the highly sought after Randal Walk community in Lake Nona. Formerly the builder’s model home, this residence showcases a variety of upgraded finishes and thoughtful design details that set it apart from the rest. Step inside to an open concept layout where the kitchen flows seamlessly into the living area, creating the ideal space for both everyday living and entertaining. The kitchen features a large island with seating, modern finishes, and ample counter space, all overlooking the main living area for a bright and connected feel. Upstairs, all bedrooms are thoughtfully positioned, including a spacious primary suite highlighted by a tray ceiling and access to a private oversized porch, perfect for relaxing mornings or unwinding in the evening. The secondary bedroom includes custom built-in shelving, adding both style and functionality. Additional features include a back entry drop zone with hooks added in 2024, offering a convenient and organized space for daily living. The home also boasts a long front porch that enhances curb appeal and creates a warm, welcoming first impression. Located within a gated section and just steps from the community pool, residents enjoy added privacy along with access to top tier amenities. The neighborhood is known for its friendly atmosphere, well maintained surroundings, and responsive HOA, contributing to a clean and well cared for environment. Situated in the heart of Lake Nona, you are just minutes from top rated schools, parks, shopping, dining, and major roadways, making this home as convenient as it is charming. This is a rare opportunity to own a move in ready, former model home in one of Central Florida’s most desirable communities.
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.
