Welcome to your private retreat just minutes from Tampa. This inviting 3-bedroom, 2-bathroom home sits on just over half an acre of open Florida land and offers the freedom of true country living with no HOA and no CDD fees. Here, you can live life your way with plenty of space to bring your boat, RV, or any of your favorite toys. Located less than five miles from Lake Thonotosassa, Hillsborough County’s largest natural lake, this property places you close to outdoor recreation, from bass fishing and boating to quiet mornings in the Florida sunshine. Inside and out, this home blends comfort and potential. The newer roof from 2019 provides peace of mind, while multiple outbuildings add flexibility for a workshop, storage, or even a private office. The cozy fire pit area is perfect for relaxing evenings under the stars, and the covered outdoor space offers an ideal setting for entertaining or enjoying the peaceful surroundings. This property qualifies for 100 percent financing with zero PMI when using the preferred lender, creating an incredible opportunity for qualified buyers to own a home with no down payment and lower monthly costs. Whether you dream of a quiet homestead, a weekend getaway, or room to expand your hobbies, this property has it all. With easy access to I-4 and I-75, you can enjoy the tranquility of country living while staying close to all the conveniences of Tampa. Three bedrooms, two bathrooms, multiple outbuildings, and over half an acre of land make this home truly one of a kind. Come experience the space, serenity, and freedom that make Thonotosassa living so special.
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.
