LIVE IN or INCOME ReNTAL PROPERTY WITH A HOST OF REVENUE STREAMS. Rare BIG Double-Lot Opportunity! Updated, unfurnished modern coastal home on an oversized 16,000+ sq. ft. fenced lot — perfect for pets, with NO HOA, NO CDD, and NO water or sewer bills. Offers 2–3 bedrooms, 2 baths, plus flexible spaces ideal for an office or guest area. Can be furnished TBD, Income possibilities and capabilities available on request. Bonus: This property includes two 80x100 lots (totaling over 16,000 sq. ft.) with one of those a cleared 8,000-sq-ft lot (approx. $70-85K value) that can be kept, built on, or sold separately. RF-3 zoning provides excellent options for investment, expansion, or future development. Financing advantage: Take over a very low-rate assumable FHA loan (subject to lender approval). Interior highlights include luxury vinyl plank flooring, granite kitchen countertops, abundant shaker cabinetry, ample closet storage, new dishwasher, washer/dryer, beverage fridge, stainless appliances, 2024 whole-house water system, LED lighting, and hurricane-rated 1477sqft 480sqft more. windows with custom plantation shutters throughout. Price change reflects unfurnished but furnished is an option. Enjoy the four-season porch with A/C, screened front porch, and large driveway accommodating up to seven vehicles, plus room for RVs or boats on the extra lot, a 12x10 storage shed, and rear patio for entertaining. with expanded under a/c your looking at Residents enjoy access to a private community ferry with deeded beach and boat ramp privileges. Just minutes to the Gulf of America VIA Intracoastal Waterway, Venice, Wellen Park, Siesta Key, and Sarasota beaches. Truly a rare, move-in-ready coastal property with exceptional income potential — ideal for Snowbird kiving or income producing Airbnb, seasonal rentals, or RV/boat storage income on the second lot, Multiple income streams here. Opportunities like this close to Intracoastal are hard to find! with community deeded gulf beach by ferry (w/pass) and boat launch
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.
