Welcome to this 2-bedroom-plus-den, 2-bath home built in 2017 in Somerset at The Plantation, a gated golf course community in Fort Myers, Florida. Located outside a flood zone with no flood insurance required, the 1,804-square-foot single-level residence offers ceilings over 10 feet, coffered ceilings in the living room, an open layout that lives comfortably for both everyday living and entertaining, and a freshly painted interior throughout. Tile set on the diagonal runs through the main living areas, wood-plank tile anchors both bedrooms, and plantation shutters dress the windows from front to back. The primary suite includes custom closets that keep everyday storage organized and easy to live with. A whole-house water softener system serves the entire home, protecting fixtures and appliances while improving water quality at every tap. The kitchen features stainless steel appliances, quartz countertops, and a reverse-osmosis water system. Just off the dining area, a bonus sitting nook opens to the lanai and fills with natural light, an easy spot for morning coffee or a quiet read. The separate den works as a home office, guest room, or flexible third space, and the home is protected for Florida living with hurricane screens on the lanai and shutters on the remaining windows. The backyard offers plenty of room to add a pool. Residents of The Plantation enjoy optional membership at Plantation Golf & Country Club, home to an award-winning 18-hole championship course designed by the acclaimed team of Dr. Michael Hurdzan and Dana Fry, with Pinehurst-style bunkering and contoured fairways that reward precision. Because golf membership is optional, you set your own pace, from full golf access to a simple social connection. The Great House, the community's colonial-style clubhouse, anchors the social side with member dining, expansive terraces overlooking the course and driving range, and a full calendar of family and social events. Just outside the community gates sits JetBlue Park at Fenway South, spring training home of the Boston Red Sox, putting Major League Baseball in your backyard every March. Somerset at The Plantation also sits minutes from Southwest Florida International Airport, Gateway, and I-75, with easy access to shopping, dining, and Southwest Florida's Gulf beaches. Built in 2017 and outside a flood zone, this is comfortable, low-maintenance living in one of Fort Myers' standout golf communities, with room to make it your own.
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.
