*2.25 VA ASSUMABLE LOAN* 2021-BUILT TOWNHOME WITH 4-CAR GARAGE, SCREENED BALCONY, FENCED BACKYARD & NO REAR NEIGHBORS IN A GATED COMMUNITY NEAR GANDY BLVD Built in 2021, this 3-bedroom plus den, 2.5 bath townhome offers 2,310 heated square feet in a central Tampa Bay location with strong commuter access to Tampa, Downtown St Petersburg, and MacDill Air Force Base. An assumable VA loan at 2.25 rate may be available to qualified buyers, offering a potential financing advantage in today’s market. HOA is only $432/month. Flood insurance costs $612/year. The main living area is elevated above the garage and features an open floor plan with high ceilings and a screened and covered balcony off the living room overlooking a private wooded setting with no rear neighbors. The den on the main level offers flexibility for a dedicated home office, den, or additional living space. Interior features include crown molding, custom closets, Cat5 cabling throughout, and wiring for high-speed internet. The kitchen is designed for both daily use and entertaining, with a large island with built-in pop-up outlets, reverse osmosis water filtration, a wine refrigerator, and a connection to the whole home water filtration system. Concrete firewalls between residences provide added sound separation. The oversized garage with storage can accommodate up to four vehicles and offers flexibility for a workshop, gym, or hobby space. It includes a 36,000 BTU mini split system, insulated garage door, overhead storage racks, and a 50-amp outlet suitable for EV charging. Outdoor features include a fenced backyard with no rear neighbors and an open patio space. Riviera Place is soon to be gated community with sidewalks and a community pool. Located near Gandy Boulevard with convenient access to everyday shopping including Publix, Target, Home Goods, and Starbucks, as well as nearby Weedon Island Preserve with kayak trails, boardwalks, and nature paths along Tampa Bay. This property is also positioned near the Amara Bay Residences and Marina redevelopment at 12000 Gandy Blvd N, where construction began in 2024 and includes 415 luxury apartments and townhomes, a 150 slip marina, an 8,000 square foot waterfront restaurant, and a three quarter mile boardwalk with fitness trails. Mattamy Homes has also acquired 53 townhome sites nearby with pricing anticipated to start in the 700,000s, supporting long term value and future growth in the area.
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.
