Discover the space, flexibility, and updates this beautifully maintained brick home has to offer on approximately 1.71 acres. Conveniently located just off Hwy 247/Branford Highway outside the city limits, this property offers a blend of privacy and seclusion while still providing easy access to shopping, dining, I-75, Live Oak, Fort White, and nearby everyday conveniences. Inside, you’ll find a large great room ideal for gathering and entertaining, a separate dining room, and an oversized kitchen featuring epoxy countertops, a gas range and oven, side-by-side refrigerator, dishwasher, abundant cabinetry, and luxury vinyl plank flooring. Luxury vinyl plank flooring extends throughout much of the home, and sliding glass doors with built-in blinds lead to a screened porch overlooking the above-ground pool and deck area. The flexible floor plan includes two spacious primary-style suites with en suite bathrooms. One oversized primary retreat features a private exterior entrance and accessibility-friendly features including a ramp entry and expansive walk-in shower, making it ideal for a variety of living arrangements and offering potential for an in-law suite setup. This suite also includes barn doors leading to the bathroom, ceramic tile flooring, a large walk-in closet, and linen storage. Additional living space includes a flex room currently being utilized as a bedroom, as well as an additional bonus/flex space that offers versatility for a variety of uses. Additional improvements and features include a brand-new roof, updated electrical with two panels, two AC units, whole-house water filtration system, brand-new well system, RV hookup, circular driveway, fully fenced backyard with multiple gate entries, and multiple covered parking areas. One of the large carport areas includes power and workshop space, providing added flexibility for hobbies, storage, projects, or equipment needs. Offering a combination of acreage, updated features, flexible living space, and a convenient location with added privacy, this property presents a unique opportunity with room to spread out both inside and outside.
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.
