One or more photo(s) has been virtually staged. Welcome to this spacious 3-bedroom, 2-bath single-family home located in a desirable non-HOA Temple Terrace neighborhood, offering nearly 2,000 sq ft of heated living space plus an additional studio/den for added flexibility. Built in 1971, this home blends solid bones with thoughtful interior updates and exciting potential to make it your own. Inside, you’ll find a traditional floor plan featuring a formal living room, separate family room, and kitchen that opens to the dining area—ideal for everyday living and entertaining. The kitchen was updated within the last several years and showcases dark cabinetry, granite countertops, stainless steel appliances, a breakfast bar, and ample storage. Large tile flooring flows through the main living areas, while the bedrooms offer laminate flooring for comfort and easy maintenance. The primary suite includes an en-suite bathroom, and both bathrooms have been updated in recent years. An additional studio/bonus room provides the perfect space for a home office, den, creative studio, or flex room. Step outside to a large open-air pool and generous backyard, offering plenty of room to create your own private oasis. The yard is partially fenced, and the exterior offers an excellent opportunity for cosmetic improvements to add value and curb appeal. Major peace of mind comes with an AC replacement in 2021. Conveniently located near restaurants, shopping, public transportation, and popular attractions, including Busch Gardens, Adventure Island, and the Museum of Science & Industry, this home is ideal for investors or buyers looking for a fun renovation project in a well-established area. With no HOA and strong potential, this is a property best appreciated in person. Schedule your private showing today and envision the possibilities.
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.
