<INVESTOR SPECIAL> This is truly, a ONE-OF-A-KIND, incredibly unique- HIGH-UPSIDE OPPORTUNITY!! This is one of the GREATEST OPPORTUNITIES to ever hit the Miami Gardens market! This is a single-family home currently configured with 8 separate living spaces- consisting of 10 bedrooms and 8 bathrooms. This is a true project requiring significant TLC, reconfiguration, and potential remediation or demolition- as one of the living spaces has been impacted by fire and is currently designated as an unsafe structure by the city. This is a major opportunity suited for experienced investors who understand how to unlock value. Just months ago, the property was generating over $10,000/month in rental income. Now priced aggressively for a fast sale, this is where real opportunity is created. Serious investors only—this is a high-upside, once-in-a-decade type deal. Situated on a large lot with ample parking and multiple access points, the layout allows for flexible use with independent entrances and strong rental potential. The spacing and layout provide privacy and functionality, making it ideal for a variety of investment strategies. A significant portion of the property has been LUXURIOUSLY RENOVATED, featuring modern finishes including updated flooring, contemporary kitchens, and upgraded bathrooms with clean, functional layouts. The living space that was impacted by fire is currently designated as an unsafe structure by the city. The property will require repairs, reversions, updates, and potential code compliance, remediation, or demolition. Buyer to verify all information, including current use, zoning, and any necessary approvals. Roof and central AC were updated in 2020. Remaining units utilize mini-split systems. Electrical and plumbing in good working order. Two of the units are currently occupied on month-to-month leases, paying $2,300 and $1,600 per month. The rest of the home was vacated due to the fire and seller's preparation for selling. With no HOA and no rental restrictions, the versatility here is UNMATCHED. Whether you’re looking for a large-scale fix and flip, long-term cash flowing trophy asset, or redevelopment opportunity—this is one of those rare deals that checks so many boxes. Property is being sold as-is. Priced aggressively for a fast sale. <SCHEDULE A SHOWING TODAY><NO ASSIGNABLE CONTRACTS>
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.
