VISIT THIS SPACIOUS, IMMACULATE HOME WITH ITS WELL THOUGHT OUT FLOORPLAN.SOUGHT AFTER TAYLOR MORRISON,EMERSON FLOORPLAN.YOU ENTER THE WIDE ENTRANCE HALL INTO A LARGE FORMAL DINING AND SITTING ROOM.A DELIGHTFUL ROTUNDA WITH UPGRADED LIGHTING, LEADS INTO THE OPEN PLAN KITCHEN AND EXTENSIVE FAMILY ROOM.THE KITCHEN WITH ITS CENTER ISLAND , OPEN COUNTER, WITH ADDITIONAL SEATING ,MAKES IT THE CENTER FOR FAMILY GATHERINGS. THE TRAY CEILINGS,CROWN MOLDING ,RECESSED LIGHTING AND UPGRADED LIGHT FITTING, MAKES THIS QUALITY HOME WORTH A VISIT.WALL TO WALL GLASS DOORS OPEN UP TO THE OVERSIZED 12X 43 FT CLOSED IN LANAI.THE GARDEN IS TRULY A HAVEN WITH WELL POSITIONED,AZALEAS,CREPE MYRTLE, OLEANDER,AMONG OTHER.EVERY ROOM HAS BEEN TASTEFULLY DECORATED.THERE ARE TWO WALK IN CLOSETS IN THE MASTER BEDROOM. SEPARATE TOILET, SHOWER AND LARGE GARDEN TUB IN THE REALLY LOVELY MASTER SUITE.THERE ARE TWO EN SUITES WHICH WOULD BE CONVENIENT AS MOTHER IN LAW OR SEPARATE GUEST SUITE. THERE IS A SPRINKLER SYSTEM, WHOLE HOUSE REVERSE OSMOSIS WATER FILTRATION SYSTEM AND HURRICANE SHUTTERS FOR BUYERS BENEFIT.THE TV AND ELECTRIC FIREPLACE IN MASTER BEDROOM CONVEY.ALL FURNISHINGS ARE FOR SALE.THERE ARE AMPLE SHELVES IN THE 3 CAR GARAGE AND A FREEZER THAT WILL CONVEY WITH WASHER AND DRYER.ROOF AND LANAI 1 YR OLD.HOT WATER HEATER 5 YRS THE HOME IS WELL POSITIONED IN THE COMMUNITY,WITH EASY ACCESS TO EVERYTHING.
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.
