Nestled in the highly sought-after, deed-restricted 55+ community of River Isles, this beautifully updated home perfectly blends eco-friendly efficiency with modern structural updates. With the heavy lifting already done for you, all that’s left is to move in and start enjoying the Florida sunshine. Solar panels harness the Florida sun to drastically reduce or completely eliminate your monthly power bills. Brand new, high-efficiency hurricane impact windows installed in 2024 provide incredible insulation, quiet interiors, and effortless storm protection, while the tile roof was completely replaced in 2023 for years of structural security and excellent insurance discounts. The flat roof was replaced in 08/2023. Inside, the home features a stunning, custom full-wall mural painted by a well-known artist, serving as a breathtaking focal point that injects sophisticated character and vibrant Florida energy into the space. This unique piece of art perfectly complements the bright and airy open layout, which is designed for effortless entertaining and comfortable daily living with a seamless flow from the living area to the kitchen. The chef-ready kitchen is equipped with plenty of counter space and functional cabinet storage, keeping the cook connected to guests at all times. For privacy, the home offers a thoughtful split-bedroom plan. The spacious primary suite serves as a relaxing retreat complete with an en-suite bathroom and generous walk-in closet space, while the separate second bedroom and full guest bath offer ideal comfort for visiting family or a perfect setup for a dedicated home office. A large Florida room can double as a 3rd bedroom, craft or game room or just a quiet place to enjoy casual dining, and maybe that quiet morning coffee. Off the 2-car garage is a covered patio, great for grillin and chillin. The River Isles lifestyle is famous for its warm, welcoming, and active atmosphere. Located right along the scenic Braden River, your low monthly HOA fee grants you access to top-tier neighborhood amenities, just a short walk or golf cart ride away. The central community clubhouse features a fitness room, game tables, a full library, and an active calendar of social events. You can enjoy the temperature-controlled pool, which is fully heated for year-round swimming, or join a friendly tournament on the shuffleboard courts. River Isles even boasts of its own privately owned, 9-hole executive golf course with modest annual memberships available. Best of all, you are minutes away from everything you need, with easy access to local supermarkets, shopping centers, major medical facilities, entertainment, airport, and Interstate 75. When you want to explore the area, head to the vibrant Bradenton Riverwalk and the pristine white-sand beaches of Anna Maria Island…just a short drive away. Schedule your private tour today and see what active, low-cost Florida living truly looks like. There is a one-time $2000 fee to the Capital Reserve Fund.
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.
