ENJOY COUNTRY LIVING in this beautiful RANCH-STYLE home on 2 acres (double lot) in the highly sought after Oak Forest community with NO HOA, so bring your camper, RV, boat, ATVS, pets, and toys!! NO FLOOD!! NO CDD!! 3 bedrooms + office + 2 full bathrooms + 1/2 bath + rock fireplace + 2-car garage + fully fenced with gorgeous iron fence and double gated entrance + large detached RV garage/storage shed (16x32). This is a neighborhood of one acre lots with beautiful custom homes on them. This home sits on a rare DOUBLE lot, so it offers 2 acres of privacy and a place for your family to enjoy the outdoors!! You can see the lot's impressive size just driving up to it and seeing the length of the iron fencing and the private gated entrance. Located near the end of a dead end road, so no through traffic!! Lots of quiet neighborhood roads to take long walks or ride your bikes. Enjoy warm nights around your beautiful fireplace!! The home offers a large front porch (39 x 6) and a large rear porch (39x10) to entertain your family and friends!! Or enjoy a drink together at sunset on the rear porch!! This home offers a lot of outdoor living space!! The home is large with 1,968 sq feet of livign space and 3,142 total sq feet under roof!! It offers a breakfast nook and a formal room dining area!! The master suite offers dual closets and an ensuite bathroom with a soaking tub, and dual sinks! Metal roof 1992. AC 2009. County Water. Septic. Shed furthest in the back of the property is a cooking shed and in excluded in the sale. Located off US Hwy 41, just north of Historic Brooksville and just a short drive up 41 to Historic Floral City full of lakes and water activities!!
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.
