Move-In Ready Seminole Heights Home with Rare Attached 2-Car Garage, Views of Lake Roberta, and tons of storage space. No flood insurance required and situated 37 feet above sea level, this beautifully updated 3-bedroom, 2-bath home offers a rare combination of space, storage, and true move-in-ready condition features that are increasingly hard to find in this neighborhood. Uncommon for the area, the home includes an attached two-car garage, generous closet space, and an oversized crawl space comparable to a basement, providing exceptional storage and everyday functionality. The updated kitchen features ample cabinetry, stainless steel appliances, and a breakfast nook that opens to the back deck. Wood floors were refinished in 2021, preserving the home’s character while delivering a clean, modern feel. The second-floor bedroom opens to a private screened-in balcony overlooking the backyard, offering flexible use as a bedroom, office, or quiet retreat. Outdoor features include a large fenced backyard, back deck, and storage shed ideal for entertaining, recreation, or daily living. Major updates include all new PEX plumbing from the street to the fixtures, new windows and exterior doors, a new roof in 2021, AC replaced in 2019, siding updated in 2021, primary shower retiled in 2025, Water Heater replaced in 2023, and additional cosmetic updates throughout. Home located in the Lakewood Manor subdivision of the highly sought-after Hampton Terrace area of Seminole Heights. Conveniently located approximately 5 minutes from downtown Tampa, with easy access to I-275 and 12 minutes to Tampa International Airport and International Mall, this home delivers location, functionality, and peace of mind without compromise… and without carrying groceries in the rain.
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.
