Welcome to this stunning three-story Waterfront townhome located in the highly sought-after community of Tara Cay! This beautifully maintained residence offers 3 spacious bedrooms and 4 full bathrooms, featuring a wide open floor plan designed for comfortable living and entertaining. The first floor includes a one-car garage with an automatic garage door opener, a water conditioning system, and a central vacuum system for added convenience. You’ll also find a large family room on this level that can easily serve as a game room, home office, or guest suite, complete with a full bathroom. Sliding glass doors lead to a screened patio overlooking the tranquil waterway, where you can relax or cast a line from the private dock just steps away. Upstairs on the second floor, the main living area boasts an expansive living and dining room combination with plenty of natural light and gorgeous views of the water. A second full bathroom and a spacious bedroom are also located on this level. Step outside onto the screened rear patio and enjoy the peaceful scenery and fresh breezes off the water. The main living areas on the second and third floors feature top-quality luxury vinyl plank flooring that adds both elegance and durability. The top floor is dedicated to the private bedroom suites. The master bedroom offers vaulted ceilings that make the room feel airy and open, along with an updated ensuite bathroom showcasing custom tile work in the stand-up shower, granite countertops, and stylish lighting fixtures. The third bedroom also includes its own private bathroom, perfect for guests or family members. For added convenience, the indoor laundry area is located on this floor as well. Additional features include crown molding throughout, abundant closet space, and a brand-new roof. This exceptional townhome combines comfort, functionality, and style in one of the area’s most desirable neighborhoods. Located in the heart of Tara Cay, you’ll be close to top-rated schools, excellent restaurants, and great shopping. Don’t miss the opportunity to make this beautiful waterfront home your own!
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.
