“Assumable 3.5 percent interest VA loan to qualified buyers! This house floor plan is noticeably different from other houses in the neighborhood with the same floor plan. In 2019 a nearly 300 sf addition (26 x 11) was added to the back, along with an adjacent screen room and an attached utility shed. The shed also acts to provide additional privacy from the neighbors. A 2’ wide sidewalk (max width allowed by HOA) was also poured around the entire house making outdoor access between front and backyards effortless (especially when moving large items). The driveway was also widened to the max allowed by the HOA. The 2019 addition was HOA approved according to architectural drawings, with all county permits completed including hurricane glass windows and sliders. To help insulate against noise, the original windows on the south side of the house were also replaced with hurricane windows during the construction project. The north side of the house property line has a privacy fence to the neighbors back yards. Because those properties along the adjacent street trend away, this back yard is larger as it angles off along the neighbors back yards making it wider than most back yards here. With a conservation area and pond to the back, privacy fence to the north, and lush shrubbery, the property is quite secluded from next door neighbors. Finally, the messy live oaks were replaced with a beautiful Sylvester Palm and a Royal Palm tree. Auto sprinkler system is installed, but water lines need to be rerun.The entire roof was replaced in 2919 and the exterior was just repainted April 2025. The inside is also set apart by beautiful hardwood and tile floors throughout, except for carpet in two guest bedrooms and in the back room addition. The walls are rich with faux color and hand painted designs, and there’s bamboo wainscoting in the master bathroom. There is also a 2017 upgrade, adding a beautiful 3-panel glass sliding door between the family room and kitchen, allowing the family room to be used as a formal dining room. The garage also has a large loft for storage. This house has solar, installed Dec. 2023. Contract is $155/mo. (23 years remaining) and for two years now has generated almost 4000 kWh/year above what has been used. At the current typical electrical use at this home, the only other electrical cost is for a transmission fee to TECO which has been under $15/mo for two years now - the solar panels generated 10,327 kWh in 2025 (sent to TECO) of which 6448 kWh was returned to the house for use (average 537 kwh/mo.) leaving 3879 kWh banked at TECO for use as needed (similar number for 2024) - plenty of extra power to recharge an EV with no additional cost! If buyer prefers, seller is willing to split cost of solar panel payoff at closing ($17,000 each), leaving only a cost (paid to TECO) of less than $15/mo!”
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.
