Virtually Staged. ***** SELLER IS OFFERING A $3,500 CREDIT TOWARDS THE BUYER’S CLOSING COSTS or RATE BUY DOWN *****. MOVE IN READY with NO CDD and LOW HOA!! This spacious three bedroom, two and a half bath, well maintained Townhouse is located in the gorgeous gated community of Kings Lake. Prior to entering your abode enjoy the convenience of your own parking spot and the manicured mixture of lush & tropical plantings as well as matured trees for shade. As you enter into the home you are greeted with not only the third bedroom or office directly to your left but the formal dining allowing for entertaining family and friends. Both offering beautiful hardwood flooring and well maintained rooms. Conveniently located to the right and prior to entering the main part of the home is the powder room. Welcome to the massive open floor plan with kitchen, large breakfast bar and living room. The kitchen offers tile flooring, updated countertops, new LG Smart refrigerator and oven, additional appliances as well as a large pantry with plenty of storage space. Adjoining the main part of the house exit out the back slider doors to enjoy that morning coffee in your screened in lanai as you look out to the view of the lake. Enjoy the vaulted ceiling in the Master Suite and the en-suite in the 2nd bedroom both located up stairs with laundry closet in between for your convenience. Community features a dog park, basketball court, pool and playground. Brand new Publix shopping center under construction across from community entrance. Ideally located just minutes from I-75 for an easy commute to Downtown Tampa, MacDill AFB, and surrounding areas. Just minutes to local entertainment, daycares, Montessori School, Charter Schools and public schools and right down the street from I-75. Major updates include newer roof - 2020, newer A/C - 2022.
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.
