One or more photo(s) has been virtually staged. Welcome to your newer construction home, nestled in a quiet community between I-75 and US 301. Living in Ventana means that you are minutes from shopping, grocery trips (no melted ice cream here!) and numerous entertainment venues as well as nearby access to the Alafia River. You simply can not find a better Riverview location than this community, and the neighborhood pride will have you feeling at home in no time. Entering the home, your spacious and secluded home office awaits behind French doors. Continuing down the hall the light filled kitchen, dining and living areas provide ample space for entertaining family and friends, or hosting a neighborhood party in this tight knit community. Step outside the sliding door on to your covered patio to enjoy pond views with your morning coffee or an afternoon barbecue protected from the central Florida sun. Just beyond the living area on the first floor is the primary bedroom, with private bathroom consisting of a dual vanity sink, sunken shower, large owner's suite walk in closet, with linen closet that could easily be converted to an additional closet space. Ascending to the second floor, you first arrive in the oversized loft which can be used as a secondary family room, or a game room. The three bedrooms are all sized well for any age, and two of the three bedrooms have walk in closets. The second full bathroom is located just off the loft area as well as additional closets for even more storage!
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.
