Welcome to Cypress Cay at Gateway! This well-maintained 3-bedroom, 2-bath single-family home is located in a non-gated section of the highly desirable Gateway master-planned community and sits outside of a flood zone, all while offering great value HOA fees. Step through the front door into a comfortable living space that flows naturally into the kitchen and dining area, creating an inviting layout ideal for both everyday living and entertaining. The kitchen features wood cabinetry, Corian countertops, and a brand-new sink, with plenty of workspace for cooking and gathering. The home also includes an in-house washer and dryer along with a spacious two-car garage for added convenience. The primary suite offers brand-new carpet and a generously sized bathroom with dual vanities, a soaking tub, and a separate shower. Sliding glass doors lead out to the screened-in lanai, where you can enjoy peaceful outdoor living while overlooking a spacious backyard with plenty of room to add a pool, giving buyers the opportunity to create their own private Florida oasis. Additional highlights include a new shingle roof installed in 2023 and a home that is completely move-in ready, making it easy for buyers to close quickly and start enjoying the Southwest Florida lifestyle. Gateway is one of Fort Myers’ most established master-planned communities, spanning more than 3,000 acres with over 30 unique neighborhoods and a wide range of recreational opportunities. Residents enjoy miles of walking and biking trails, parks, playgrounds, sports fields, and access to optional country-club amenities including golf, tennis, pickleball, fitness facilities, and resort-style pools. The location is incredibly convenient—just minutes from I-75, Southwest Florida International Airport, Gulf Coast Town Center, restaurants, shopping, and JetBlue Park, the spring training home of the Boston Red Sox. Gateway’s combination of accessibility, amenities, and community atmosphere makes it one of the most popular residential areas in Fort Myers. If you’re looking for a move-in ready home with space to grow in a vibrant Southwest Florida community, this Cypress Cay property is a fantastic opportunity.
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.
