Some photos are virtually staged. Welcome to Oakridge Manor! Looking for a backyard oasis? This is one you have to see. This 4 bed 2 bath home +office is ready for new owners to enjoy all it has to offer. If you need a great kitchen for preparing meals but also like to spend a lot of time outdoors you can have both! You'll love how the kitchen opens up to the family room with vaulted ceilings and a fireplace, creating a great space for large gatherings. This home also features a SPLIT FLOOR PLAN, giving privacy in the primary suite that includes his and hers closets. In the winter, open up the sliders and take advantage of the massive screened lanai while the pets and little ones roam in the backyard. Speaking of backyard, the pool area is a dream for those that love to entertain, with new decking and a POOL RESURFACE completed in 2023, a separate deck area under a pergola, and plenty of room for backyard games. INTERIOR PAINT was just completed, cabinets too! You'll love the new BUTCHER BLOCK COUNTERTOP that was just installed along with the new sink and faucet, plus the back 3 bedrooms all have NEW CARPET. When the pool deck was redone in 2023 the owners also resurfaced the driveway! The room right off the kitchen was used for an office but it would make a great den, craft room or school room. This home is on a cul de sac street, which is great for the peace and quiet, but you're still close to all that you need with Publix just 1 mile away and you'll be less than 10 minutes from Lowes, Starbucks and lots of great restaurants and shops!
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.
