Waterfront Living Redefined in Englewood! Welcome to a home where boating, entertaining, and everyday comfort blend beautifully. This exceptional elevated waterfront residence offers two bedrooms plus a versatile upstairs flex space and two bathrooms. The lower level features a third bathroom, abundant A/C storage, and three garage spaces. Two of the garage bays are air conditioned, and the third is sized for a small car or golf cart. Set on a wide canal with a concrete seawall, two boat lifts, and no bridges to Lemon Bay and the Gulf, you can be out on the open water in no time. Curb appeal sets the tone with an oversized paver circular driveway, mature tropical landscaping, and a 2016 metal roof. On the lower level, a custom Stiltz lift provides effortless access to the main living area upstairs, adding both convenience and thoughtful design. Upstairs, wood plank ceilings and knotty pine floors create an instant coastal warmth. The open great room, dining area, and kitchen were designed for connection, whether you are hosting friends or enjoying a relaxed evening at home. An electric fireplace adds both ambiance and heat for cozy nights. The kitchen is truly the heart of the home, crafted for gatherings and serious cooking alike. Features include a large island with quartz countertops, granite countertop space along the walls, white shaker style cabinets with soft close hinges and abundant pull-out drawers, built-in wall oven and microwave, gas cooktop with pot filler, glass tile backsplash, warming drawer, wine refrigerator, coffee bar, and a walk-in pantry. Tile flooring in this space adds durability while maintaining style. The primary suite continues the pine flooring and ceiling detail and offers a very large walk-in closet. The ensuite bathroom feels like a private spa with a custom dual sink vanity featuring multiple drawers, a large walk-in shower with designer tile, multiple shower heads and a built-in seat, plus a bidet. The guest bedroom includes an oversized reach-in closet, and the guest bathroom features a walk-in shower and bidet as well. The lower level expands your possibilities with epoxy coated floors and flexible space ideal for a home office, gym, hobby room, or guest retreat. The laundry room includes a convenient laundry chute from the upper level, simplifying daily routines. Sliding glass doors upstairs open to a screened lanai with unobstructed canal views where manatee and dolphin like to play. Downstairs, a screened paver patio offers additional entertaining space and is pre-wired for a hot tub, creating the perfect setting to unwind after a day on the water. Additional highlights include impact windows throughout, upgraded 12 inch joists rather than standard 16 inch spacing, plantation shutters, a 250 gallon propane tank, whole house exhaust fan, and thoughtful construction details that enhance both comfort and durability. With two private boat lifts ready to go, you can be cruising to Stump Pass, anchoring at the Boca Grande sandbars, or pulling up to your favorite waterfront tiki bars in minutes to enjoy the ultimate waterfront lifestyle right from your backyard. This home is conveniently located between Englewood and Boca Grande putting you only minutes from several golf courses, parks, pickleball courts, beaches, local restaurants, live entertainment, medical facilities, and shopping. At 10467 Sherman Street, the boating lifestyle and sunsets all come together in one extraordinary waterfront home.
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.
