The one you have been waiting for. Located in downtown Saint cloud, one of central Floridas fastest growing communities, just minutes from world renowned lakes, Lake Nona, Orlando Airport, and a short drive to Disney and Universal this multi-unit property is bursting with value. Situated on over a 1/3rd acre corner lot, this property features two seperate units with separate addresses and utilities. The main residence is an updated 3/2, the ADU is a 1/1 also updated. Through the front door of the main residence, an open and airy floor plan greets you bursting with natural light onto the refinished wood floors. To the left, a huge living room is perfect for family gatherings. To the right through a barn door you will find the homes large laundry room which feeds into the updated downstairs full bathroom. Past the living room and dining area, the homes well equipped kitchen boasts new cabinets, tiled backsplash, newer appliances, breakfast bar, ample storage, views to the back patio, and a second set of stairs to the second floor. Upstairs you are greeted with an amazing loft area perfect for movie nights, or a home office. The master sits on the far end of the second floor for added privacy. It features great size and great views. The third bedroom is also upstairs and is conveniently placed to easily access the second full bathroom which has also been updated. Past the back patio, driveway, carport, and large storage shed, the separate guest home is located on the west side of the property giving it its own space and privacy. The guest home has a large living room, which leads into a dining area and spacious kitchen which has been updated. The bedroom is spacious for this size of unit and offers tremendous closet space. The bathroom has also been updated in this home. Front and back patios are a bonus to get outside and enjoy Floridas pristine weather. Main residence updates include: new water softener system 2020, replaced entire main drain line 2019, gas tankless hot water 2019, gas dryer 2019, natural gas hook up for grill or generator 2019, expanded Landry room 2019, new tile floor, Ac 2020, all new ductwork, new thermostats, carport new metal roof 2023, termite tented and treated 2023. Guest residence updates include: new Ac 2024, new fridge 2024, new front porch 2021, added W/D combo unit 2019, residence has its own water, cable, electric. Both units rented: main house $2,335/ guest house $1,425. Leases end 6-30, and 10-31. ** Both Roofs have been inspected by roofing company Jan 2026. There is life left but owners will provide roof credit with full price accepted offer. This will cover replacing both main and guest home roofs.**
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.
