Fresh, clean, and ready for you to move right into this 4 bedroom, 3 bath home in Hunting Downs. It is basically the “why build when you can have this?” option. Built in 2018, it still has that practically brand-new feel without the wait, construction dust, or decision fatigue. When you walk in, 3 of the bedrooms are tucked down the hall to the right, giving them their own little corner of the house up front. They share a full bathroom, making it a great setup for family, guests, or that one friend who somehow always ends up staying the night. Head into the main living area and you’ll find a bright, welcoming living room with two large windows letting in plenty of natural light. Just off the living room is a small nook that’s perfect for a desk, office space, or a bookshelf if you’re feeling ambitious about your reading goals. The kitchen is ready for action with granite countertops, stainless steel appliances, a cooktop, pantry, and even a wet bar, because sometimes cooking requires a little “assistance.” The dining area sits just off to the side and features sliding doors that open out to the screened-in lanai where you can enjoy peaceful pond views and Florida evenings without becoming dinner for the mosquitoes. Located in a small community, where you’re conveniently close to the south end of DeLand for everyday shopping, while still just a short drive to the north side and downtown where you’ll find local boutiques, restaurants, and all the small-town charm that makes DeLand such a great place to live. Clean, comfortable, and move-in ready, this one makes settling in easy. Just bring your furniture and maybe a few patio chairs for that lanai view.
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.
