Welcome to your completely remodeled oasis in the beautiful Southfork community! This exquisite 3 bedroom, 2 bathroom home, complete with a dedicated office space, has undergone over $50,000 in upgrades that blend modern elegance with everyday functionality. As you step inside, you're greeted by elegant wainscoting in the foyer, setting a tone of sophistication. The office, accessed through double doors adorned with decorative trim, offers a perfect sanctuary for productivity or quiet reflection. The heart of the home is undoubtedly the expansive island kitchen, featuring custom stonework that adds a touch of luxury. With stainless steel appliances at your fingertips, cooking and entertaining become a delight. The large master bedroom is a retreat in itself, boasting dual vanity sinks and a spacious walk-in shower equipped with a rain showerhead, perfect for unwinding after a long day. Two additional generously-sized guest bedrooms ensure comfort for family and friends. Step outside to your extended lanai, where you can savor your morning coffee or host evening gatherings. The professionally built outdoor kitchen and pristine turf throughout the backyard create a perfect outdoor entertainment space. Plus, the laundry room features custom shelving, making organization a breeze, and the garage boasts professional epoxy flooring for a polished finish. Say goodbye to carpet and hello to stylish, low-maintenance vinyl floors that flow seamlessly throughout the entire home. With breathtaking views of the water right outside your door, you'll feel connected to nature every day. Located just minutes away from the Summerfield Sports Complex, you’ll have access to miles of walking, running, and cycling trails. Enjoy the community's resort-style amenities, including a pool, basketball court, playground, dog park, and much more! Plus, with easy access to highways, you're just a short drive from Tampa, St. Pete, Sarasota, airports, hospitals, grocery stores, restaurants, beaches, and theme parks. This home is truly like new, offering a perfect blend of modern comfort and community lifestyle. Don’t miss your chance to call this stunning property your own, schedule a showing today! Your dream home in Southfork awaits!
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.
