Welcome to this beautifully updated home in River Plantation, ideally situated on one of the community’s most desirable homesites overlooking a brackish water lagoon connected to the Manatee River, where freshwater and saltwater combine to attract a variety of fish, birds, and native wildlife, including frequent manatee sightings. Elevated above the water and located outside of a flood zone, this property offers peaceful waterfront views with added peace of mind. The home features an extended paver lanai with a screened pool and lighting, creating the perfect space for outdoor living and entertaining while enjoying the natural surroundings and professionally enhanced landscaping. Inside, the open great room showcases vaulted ceilings, upgraded lighting, and architectural niches throughout. The updated kitchen includes stunning countertops, decorative backsplash, and stainless steel appliances, all flowing seamlessly into the main living areas. The spacious primary bedroom offers direct access to the pool and lanai, providing a private indoor-outdoor retreat. This home is ideally suited for empty nesters, seasonal residents, or buyers seeking to downsize while enjoying Florida’s warm climate and low-maintenance lifestyle. Residents enjoy kayak access from the backyard into the lagoon and river system, along with River Plantation’s community pool, walking trails, and recreational amenities. Conveniently located near growing Parrish and Lakewood Ranch, the home is just minutes from shopping, dining, medical facilities, Hidden Harbour Park, and Ft. Hamer Park with public boat launch, biking trails, and sports fields. Low HOA fees and no CDD taxes add to the overall value of this exceptional property.
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.
