Discover an exceptional opportunity to own a beautifully updated, energy-efficient home in the prestigious gated community of Palencia—complete with an ASSUMABLE 2.75% VA loan. This refreshed 6-bedroom, 4-bath residence offers an oversized 3-car garage, expansive bonus room, and nearly $200,000 in recent upgrades, blending modern luxury with everyday comfort and sustainable living. Step through the dramatic two-story foyer into a bright, open floor plan filled with natural light, soaring ceilings, and surround sound. The heart of the home features a custom gas fireplace framed by walnut-inlay built-ins—an elegant and inviting focal point for gatherings. The fully updated first-floor Owner's Suite showcases a redesigned spa-style bath with premium finishes. A second main-level bedroom next to a full bath is ideal for guests or multigenerational living. Upstairs, a huge bonus room provides the flexibility of a private retreat or secondary suite, accompanied by three additional bedrooms and a central loungeperfect for work, relaxation, or play. This turnkey home is truly move-in ready, offering upgrades that deliver both beauty and peace of mind: " Brand-new solar panels for maximum energy efficiency and thousands in annual utility savings. " Freshly painted exterior, new fixtures, and a designer front door for elevated curb appeal. " Expansive screened-in lanai overlooking a serene wooded preserve is ideal for relaxing or entertaining, with ample room for a swimming pool and outdoor living. " Not located in a flood zone, providing added security and lower insurance costs. Residents of Palencia enjoy resort-style amenities including championship golf, multiple pools, tennis, pickleball, gym/fitness facilities, parks, trails, cycling, walking, and playgrounds - all surrounded by lush Florida landscapes. All within minutes of the beaches, historic St. Augustine, and Jacksonville/Ponte Vedra, with top-rated schools, dining, and shopping right nearby. Offering a rare combination of luxury, efficiency, and thoughtful design, this exceptional home is a standout opportunity in one of Northeast Florida's most desirable communities.
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.
Data provided is deemed reliable but is not guaranteed. The data relating to real estate for sale on this website comes in part from the Northeast Florida Multiple Listing Service, Inc. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2025 Northeast Florida Multiple Listing Service, Inc. All Rights Reserved.
