Lovely Deep Creek split floor plan, 3/2/2 non pool home with an oversized 2 car garage is nestled in this quiet, conveniently located community. This neighborhood has city water and sewer, deed restrictions, and a couple of residential/commercial plazas. There are 3 major grocery stores, restaurants, shopping, banks and access to I75 along the west edge of the community. Not far the Charlotte Harbor, Peace River and Downtown Punta Gorda, where you can enjoy boating, water activities, biking/walking paths, local beaches, parks and local events. Entering the home, you notice high ceilings, open living area and a view of outdoor living. The Kitchen has granite counter tops, wood cabinets, stainless steel appliances, a portable island that fits nicely between the sink and range (currently along the wall in the Breakfast nook) and a bright, spacious breakfast nook. The Dining room is a comfortable space open to the Great room with access from the Kitchen. The Primary bedroom is off the Dining room. The large room has access to the private area on the Lanai. There is a large L shaped walk-in closet. The bathroom has 2 sinks and a separate walk-in shower/water closet. The guest side of the home has additional hall closets, 2nd bedroom with a walk-in closet, 3rd bedroom with access to the Lanai and the guest bathroom with a tub/shower and a door to the Lanai. The Laundry room is near the front of the home with access to the oversized 2 car garage. It has a laundry tub, additional cabinets and a closet. The over sized, side load garage has a huge amount of additional storage. Roof replaced in 2023, new appliances including the washer and dryer. The A/C motor was replaced 2026. The VA loan is assumable. Come see this beautiful home and make it yours!
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.
