A rare opportunity to own a meticulously renovated Spanish-style home in the heart of Coral Gables. This is not a flip — every material was sourced and every detail was intentional. The result is a home that cannot be replicated. The great room is the heart of the house and immediately tells you what kind of property this is. Soaring cathedral ceilings clad in original pecky cypress and old Florida pine, exposed wood trusses, and ornate antique corbels create a space that is both dramatic and deeply warm. A book-matched albesia wood mantle anchors the wood-burning fireplace as a true focal point — the grain pattern and natural edge make it a functional piece of art. Arched doorways, dual chandelier pendants, and recessed lighting complete the space. The chef's kitchen is bold and built to perform. Matte black shaker cabinets with brass hardware frame the room, while marble countertops and a farmhouse sink with brass faucet keep it refined. Appliances are top-tier: Sub-Zero refrigerator, Thermador gas range, and matching Thermador double wall oven with built-in microwave. A glass-door pantry provides generous storage, and the striking black-and-white patterned tile floor grounds the whole design. Exposed beams carry the living room's aesthetic seamlessly into the kitchen. The dining area is a nod to craftsmanship from another hemisphere — imported Mexican terracotta tile flooring, custom imported woodwork details, and a wide arched opening connecting the space to the living room make this an entertainer's dream layout. Luxury vinyl plank flooring runs through the main living areas, combining the warmth of hardwood aesthetics with durability built for South Florida living. The primary suite offers a genuine retreat — vaulted beamed ceilings, arched entry, wall-mounted TV, and direct access to one of the most impressive walk-in closets you'll find at this price point. Custom floor-to-ceiling wood built-ins with dedicated shoe display, drawer banks, and full hanging sections sit over large-format marble porcelain tile. The primary bath carries the same level of finish: Carrara marble countertops, polished brass widespread faucets, and classic white subway tile throughout. Outside, the home delivers privacy and beauty in equal measure. A deep backyard with mature tropical landscaping and a covered pergola wrapped in lush greenery creates an outdoor living space that feels like a private escape. The front elevation is pure Coral Gables — white stucco, clay tile roof, bougainvillea climbing the façade, and a covered porte-cochère entrance with hanging macramé swing chairs flanking a solid wood front door framed in hand-painted Talavera tile.
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.
