Welcome to this charming 3-bedroom, 2-bathroom, 2-car garage home nestled in a cul-de-sac in the desirable Lake Magdalene neighborhood of Tampa. From the moment you arrive, you’ll love the inviting curb appeal, with fresh sod and landscaping that make this home instantly feel warm and welcoming. Step inside to an open floor plan where the living room and kitchen flow seamlessly together, creating the perfect space for both everyday living and entertaining. The kitchen features new stainless steel appliances and plenty of cabinet space. The living room is highlighted by a sleek electric fireplace that adds both style and comfort. Just off the living room is a spacious dining area that can easily double as a family room, home office, playroom, or flex space to fit your needs. The spacious primary suite offers a private retreat with a trendy en-suite bathroom and a walk-in closet. Toward the front of the home, you’ll find two well-sized guest bedrooms and a modern guest bathroom, providing privacy and functionality for family or visitors. For added convenience, there’s an interior laundry room located right next to the door leading into the two-car garage, making daily routines easy and functional. Out back, enjoy a screened-in covered porch — perfect for relaxing and enjoying the Florida weather year-round. Beyond the porch, the fenced backyard also features fresh sod and plenty of space for pets, play, or outdoor entertaining. For added peace of mind, the roof was replaced in 2022 and the water heater in 2020. Plus, the home is NOT in a flood zone. Conveniently located just 15 minutes from downtown Tampa, 25 minutes from International Plaza and Tampa International Airport, and close to great restaurants and shopping, this home offers comfort, flexibility, and an unbeatable location.
14964 Old Pointe Rd, Tampa, FL 33613
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.
