Nestled on a desirable corner lot in the highly sought-after Snell Isle neighborhood, this beautifully updated custom residence offers the perfect blend of timeless design and modern functionality, built by Bright Bay Homes. Seller’s VA Mortgage with a 2.5% interest rate is assumable to a veteran. Encompassing 2,773 square feet across two stories, the home features 3 bedrooms, 3 full baths, and an oversized two-car garage—providing both comfort and flexibility for everyday living and entertaining. Originally designed with gatherings in mind, the home has been extensively renovated with recent upgrades spanning 2019 through 2025. A stunning $100,000 gourmet kitchen serves as the heart of the home, showcasing all Jenn-Air stainless steel appliances, a 48” 6-burner gas cooktop, a 48” Jenn-Air refrigerator, and an under counter wine refrigerator. The open-concept layout flows effortlessly from the great room to the outdoor living space, where a private patio and built-in grill create an ideal setting for year-round entertaining. Upstairs, the primary suite offers a true retreat, complete with a spacious sitting area, dual custom walk-in closets, and a spa-inspired bath featuring an oversized shower and custom vanities. Thoughtful architectural details throughout the home include crown molding, volume ceilings, custom built-ins, insulated glass windows and doors, central vacuum, and surround sound wiring with speakers in both the family room and outdoor living areas. Additional improvements include a newer roof (2021), wood flooring throughout the entire downstairs (2020), office renovation with custom built-ins (2021), updated laundry and pantry (2019) with LG washer and dryer, newer plantation shutters, and a newly renovated upstairs guest bath (2024–2025). Exterior enhancements such as driveway and backyard pavers and a new vinyl fence (2025) further elevate the home’s appeal. Blending contemporary coastal style with enduring craftsmanship, this move-in ready Snell Isle residence presents a rare opportunity to enjoy refined living in one of St. Petersburg’s most desirable neighborhoods that is great for enjoying birding, walking, jogging, and biking. All of this and the St. Pete Yacht Club's Snell Isle annex is right around the corner, and the Vinoy Golf Club is a short walk or golf cart ride away. Located just 5 minutes from the 4th Street N shopping corridor and all the action that downtown St. Pete has to offer: nightlife, shopping, museums, waterside parks, fabulous restaurants, the Vinoy Resort and Golf Club, concerts, festivals, sporting events, and so much more. Snell Isle is conveniently located near I-275 for easy access to Tampa International Airport, downtown Tampa, and all points south. Buyer to verify all measurements.
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.
