LARGE 3 BEDROOM 2.5 BATH FURNISHED HOME IN THE QUIET CREEKSIDE COMMUNITY. Large Kitchen features a center island, breakfast bar, built in double oven, cooktop range, microwave oven, lots of wood cabinets, Corian counter tops, tile backsplash, closet pantry and opens to a dining room and large family room. The second floor features an open office area with 2 baths and all bedrooms. Wood laminate and ceramic tile flooring throughout. The large master bedroom has an ensuite bath with a walk-in closet and private bathroom with dual sink vanity, tile walk-in shower, linen closet, and private commode. Large, screened lanai overlooks a nice yard which backs to a small park with walking trail. Front entrance is screened with front porch sitting area- Creekside is a quiet, deed restricted community that includes underground utilities, lakes, a picnic area, 2 playgrounds and sidewalks. Close to the Punta Gorda Airport and only a short car ride to I-75, US-41 for access to local favorites such as Fishermen’s Village, Ponce De Leon Park, shopping & boutiques, fine & casual dining, and live entertainment. AREA INFO: Downtown Punta Gorda is located on the Gulf Coast of Southwest Florida, approximately 2 miles west of 1-75 off Exit 164 and features EASY ACCESS TO WORLD CLASS FISHING IN CHARLOTTE HARBOR AND THE GULF OF AMERICA. By sea, Punta Gorda is located on Charlotte Harbor about 30 minutes by water from Port Boca Grande and Boca Grande Pass known as the Tarpon Fishing capital of the world. Punta Gorda features historic Fisherman's Village with its many shops, galleries, boutiques, restaurants and a museum. The charming downtown area of Punta Gorda features quaint cafes, restaurants, and art galleries. There are many public and semi-private golf courses within the greater Port Charlotte/Punta Gorda area which is conveniently and quietly located approximately 50 miles south of Sarasota, 24 miles north of Fort Myers, 125 miles from Orlando and Disney World, approximately 40 minutes to the Southwest Florida International Airport, and only 15 minutes to Punta Gorda Airport.
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.
