Price reduced and ready to sell, this is an opportunity that doesn’t come around often. Welcome to 11428 Pelican Avenue in the Royal Highlands of Weeki Wachee, where space, flexibility, and Florida living come together on nearly half an acre with no HOA. Built in 2022, this 4-bedroom, 2-bath home with a 2-car garage offers over 2,100 square feet of bright, open living space with high ceilings and a split-bedroom layout designed for both everyday comfort and entertaining. From the moment you walk in, the home feels open and inviting, with natural light flowing through the main living areas. The kitchen connects seamlessly to the living and dining spaces, creating a central gathering area for family and guests. Just beyond, the primary suite offers a private retreat with dual sinks, a soaking tub, tiled walk-in shower, and a spacious walk-in closet. An inside laundry room with a utility sink adds convenience, while the garage features a mini-split system, giving you the flexibility to create a workshop, gym, or additional usable space. Step outside and you’ll find one of the property’s biggest advantages. The fully fenced backyard with a 6-foot wood privacy fence provides space to spread out, entertain, or simply enjoy the quiet surroundings. With nearly half an acre, there’s room for gardening, pets, or even chickens and rabbits. The property is already wired for an above-ground pool, making it easy to create your own backyard retreat. This home does offer a unique opportunity for the right buyer. With a little cosmetic TLC and personal touches, it has the potential to truly shine and build instant equity. Whether you’re looking to customize your next home or invest in a property with upside, this is a chance to take a newer construction home and make it your own. Located just minutes from Weeki Wachee Springs State Park, local parks, trails, Gulf Coast beaches, and everyday shopping and dining, the location offers both convenience and access to Florida’s outdoor lifestyle. Homes with this much space, no HOA, newer construction, and value-add potential are getting harder to find, especially at this price point. Schedule your private showing today and bring your offers. Opportunities like this tend to move quickly once they hit the market. Some photos may have been digitally enhanced.
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.
