Hard to find Englewood East home with over half an acre of land, extra privacy, and plenty of room for all your toys. This property is located in an X flood zone, so flood insurance is not required. The home sits on one oversized lot, with a second oversized lot included next door, creating one large combined homesite with the space and flexibility buyers are looking for. Even better, there are no HOA fees and no deed restrictions, giving you more freedom to use the property the way you want. The fenced area surrounds the home and provides excellent privacy, while the extra side yard gives you space for boats, trailers, golf carts, equipment, pets, gardens, or simply more room to enjoy without everything being visible from the street or neighboring properties. There are also two sheds for additional storage. Inside, this split floor plan home offers 3 bedrooms, 2 bathrooms, a 2 car garage, and an open layout with both a living room and family room. The kitchen is centrally located between the main living areas and features new kitchen cabinets, stainless steel appliances, recessed lighting, and plenty of space for everyday living or entertaining. The current setup includes a large walk-in pantry area, but this space was originally designed as an interior laundry room, so it could easily be returned to that use if it better fits your needs. This home has had several important updates over the years, including a new roof in 2023, AC in 2016 with additional vents added for better airflow, recessed lighting throughout the home, updated lighting and ceiling fan features, vinyl flooring in most areas, new kitchen cabinets in 2025, new dishwasher in 2025, hurricane impact French door in 2025, new lanai screens and some new window screens in 2025. Additional improvements include a screened/glass front door, ceiling fan on the lanai, updated bathroom light fixtures, exterior spotlights for the backyard and side lot, garage door keypad, and a water heater replacement. French doors lead to the backyard, and sliders from the family room open to the large screened lanai. The lanai overlooks the spacious backyard and gives you a great place to relax, entertain, or enjoy the Florida weather. The side lot was cleared, giving the property even more usable space and making the extra land one of the biggest selling features of this home. This home is in a convenient Englewood location with easy access to local shopping, dining, golf courses, boating, fishing, and the beautiful Gulf beaches. With over half an acre, a fenced yard, two sheds, no deed restrictions, no HOA fees, and valuable updates already completed, this property offers the kind of space and flexibility that is getting harder to find. Schedule your showing today and come see how much potential this oversized Englewood homesite has to offer.
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.
