One or more photo(s) has been virtually staged. This 3-bedroom, 2-bathroom, 1,456 sq. ft. home is more than just a renovation project—it’s an opportunity to create a versatile property in one of Florida’s fastest-growing Gulf Coast towns. Whether you envision it as a high-performing short-term rental on VRBO or Airbnb, a steady long-term investment, a seasonal retreat, or a full-time family home, this property offers the flexibility to match your goals and generate impressive returns. With Englewood’s rising demand for rentals and vacation homes, the cap rate potential on this home makes it an attractive choice for savvy buyers. The interior drywall has already been removed, giving you a clean slate to craft a layout and design that captures your vision. Major updates are already complete—including a brand-new roof installed in 2024, full sewer redrain, and foundation repairs—all done with permits. The heavy lifting is finished, leaving you free to focus on finishes that elevate both function and value. Remodeling this property could unlock its full income potential while creating an interior that appeals to both vacationers and future buyers. Outside, an oversized driveway offers plenty of parking for guests, boats, or RVs, while a fenced yard with a storage shed invites endless possibilities for relaxation or tropical landscaping. Imagine adding a patio or pool to complete the coastal retreat experience—ideal for seasonal visitors or vacation rental guests returning year after year. Life in Englewood is defined by its white-sand beaches, turquoise Gulf waters, and welcoming community spirit. From boating and fishing adventures to boutique shopping, art galleries, and fresh seafood dining, this coastal town has become a sought-after destination for both residents and tourists. As Englewood continues to grow, thoughtfully remodeled homes like this stand to appreciate quickly, offering both lifestyle benefits and strong investment performance. Whether you’re an investor seeking strong rental income, a flipper aiming for a lucrative resale, or a homeowner ready to design your perfect beach-town getaway, this property delivers the location, structural updates, and growth potential to make your vision a reality.
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.
