One or more photo(s) has been virtually staged. Come live the Florida lifestyle in this lovely 2 bedroom, 2 bath villa located in the highly sought-after 55+ gated community of Encore at Fishhawk Ranch. This active adult neighborhood offers an engaging lifestyle with a private clubhouse, community pool, numerous social events, an on-site activities director, and more. As you enter the home, you’ll immediately notice the modern wood plank laminate flooring that extends throughout the main living areas, and an abundance of windows, recessed lighting, and high ceilings that create a bright and open feel. At the front of the home is a versatile flex space ideal for a study, den, media area, guest space, or home office. The second bedroom and full bathroom are also located near the entry, along with a well-equipped laundry room featuring a large utility sink, folding counter, and additional cabinetry for extra storage. The bright open kitchen is designed for both everyday living and entertaining, showcasing upgraded grey cabinetry, beautiful stone countertops, a closet pantry, stainless steel appliances including a gas range, and an oversized prep island with a sink overlooking the spacious living and dining areas. This home truly stands out thanks to thoughtful upgrades added by the seller to enhance comfort and functionality, including custom blinds throughout, under-cabinet lighting in the kitchen, extra TV and internet connections in several rooms, upgraded ceiling fans and light fixtures, and a convenient pavered walkway leading to the garage, which features durable epoxy flooring, along with warranted gutters and guards for added peace of mind. The split floor plan provides privacy for the primary bedroom located at the rear of the home, complete with elegant tray ceilings and a spacious walk-in closet enhanced with custom built-ins. The en-suite bathroom features rich wood cabinetry, stone countertops, new mirrors, and an upgraded rain glass walk-in shower, along with a private water closet. Step outside to the peaceful screened-in lanai where you can relax with your morning coffee or enjoy a casual meal while taking in Florida’s year-round sunshine. Residents also enjoy access to all of Fishhawk West’s resort-style amenities along with convenient nearby shopping and dining.
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.
