Located in the highly desirable Lake St. Charles community, this well-maintained 4-bedroom, 3-bath home offers the space, layout, and setting today’s homeowners are searching for. Tucked away on a quiet cul-de-sac and situated on a rare 60x166 lot, the property provides both privacy and an expansive backyard that’s hard to find in this neighborhood, with plenty of room to add a pool or design a custom outdoor living space tailored to your needs. With over 2,200 square feet of living space, the thoughtfully designed 3-way split floor plan creates flexibility for everyday living. Two secondary bedrooms are positioned at the front of the home with a convenient Jack-and-Jill bath, while a separate rear bedroom and full bath create an ideal private suite for guests, multigenerational living, or a home office. The primary suite is located on its own side of the home, offering a quiet retreat at the end of the day. Multiple living spaces including a formal living room, dining room, and a spacious family room provide room to gather and grow. Step outside to the covered, screened lanai overlooking the oversized backyard, a blank canvas ready for future entertaining, play space, or your own private outdoor retreat. Residents enjoy access to the nearby community center featuring a pool, playground, and scenic walking trails, all within a walkable, family-friendly setting. Conveniently located with easy access to the Crosstown, Downtown Tampa, and an abundance of shopping and dining options, this home offers the ideal balance of neighborhood charm and everyday convenience. If you’ve been looking for the right amount of space in a connected, community-oriented neighborhood, this Lake St. Charles home stands out for all the right reasons.
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.
