Nestled along the tree-lined streets of Copperstone, this wonderful family home offers exceptional curb appeal. Built by Ryland Homes, the residence features a thoughtfully designed floor plan ideal for the Florida lifestyle. Upon entering, the “Edgewater” floor plan welcomes you with a foyer and entrance gallery. Two secondary bedrooms and a dedicated full bath are conveniently located near the front of the home. Moving into the main living area, a wall of windows fills the great room with natural light, creating a bright and inviting space. The kitchen and dining area flow seamlessly together while overlooking the great room, making the layout ideal for both everyday living and entertaining. The primary suite is privately positioned off the great room and features its own bath and walk-in closet. High ceilings and generous windows enhance the home’s spacious feel. Wood-plank tile flooring runs throughout most of the home, with carpeting in the guest bedrooms. A radiant barrier adds energy efficiency, and additional attic flooring provides valuable storage space. The outdoor living area is equally inviting, with a covered porch that extends to a pavered lanai overlooking the fenced backyard. Landscape curbing highlights the lush Florida tropical landscaping and adds a polished finishing touch. Residents of Copperstone enjoy numerous community amenities, including a large clubhouse with a fitness center and billiards room, basketball courts, a covered playground, two community pools, and walking trails. HOA fees also include discounted cable and Wi-Fi. With convenient access to Interstate 75, the location is ideal for commuters while maintaining the appeal of low HOA fees.
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.
