Virtually Staged. Seller may consider buyer concessions if made in an offer ~ A major value-add awaits the next owner with a **BRAND NEW ROOF & OWNED SOLAR** (roof to be installed before closing / solar panels paid off at closing), giving you peace of mind and energy-saving benefits from day one! Situated on a spacious .21 ACRE LOT in desirable North Chuluota, this beautifully updated 3-bedroom, 2-bath home with a 2-car garage combines modern upgrades, a functional SPLIT BEDROOM FLOOR PLAN, and the freedom of NO HOA living. Mature landscaping and inviting curb appeal welcome you home, while the fully FENCED BACKYARD is framed by a mature tree line for added privacy. Recent exterior improvements include a new irrigation system and backyard pavers, creating the perfect setting to enjoy Florida living outdoors. Inside, WOOD & TILE FLOORING flow throughout the home, complementing the bright and open design. The open great room is highlighted by a VAULTED CEILING that enhances the natural light and airy feel of the home. In the heart of it all is the beautifully UPDATED KITCHEN, thoughtfully designed with the modern home chef in mind. Features include a chic color palette, subway tile backsplash, sleek countertops, STAINLESS STEEL APPLIANCES, a large window over the sink, and an impressive OVERSIZED ISLAND with bar seating and storage on all sides. Open to the living area, it creates the perfect space for gathering with family and entertaining friends. Just off the kitchen, the adjacent laundry room offers added convenience with built-in shelving and a storage closet/pantry. French doors let the natural light pour in and lead to a large SCREENED LANAI, extending your living space outdoors and providing a comfortable place to relax year-round. The split-bedroom layout offers privacy for everyone with the PRIMARY SUITE ideally situated on one side of the home delivering a WALK-IN CLOSET and an UPDATED EN-SUITE BATH. Bedrooms two and three are located on the opposite side and share a second full bath, also updated, and one bedroom adds extra character with a stylish wood slat accent wall. Whether you are searching for your first home, looking to downsize, or seeking a great investment opportunity, this property checks all the boxes. Located in an area known for TOP-RATED SCHOOLS and surrounded by lakes, parks, shopping, and dining, you will enjoy easy access to CR 419, neighboring Oviedo, Oviedo on the Park, UCF, and Waterford Lakes Town Center. Updated, energy-efficient, and MOVE-IN READY with no HOA – this North Chuluota gem is one you won't want to miss. Call today to schedule a tour!
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.
