One or more photo(s) has been virtually staged. Back on market due to buyer’s personal/financial circumstances. SELLER IS WILLING TO CONTRIBUTE UP TO $25,000 TOWARDS BUYERS UPDATES,RENOVATIONS, CLOSING COSTS, OR RATE BUY-DOWN with an acceptable offer. Customize your dream home on 6.14 acres while staying centrally located! If you’ve been searching for a private, fenced and gated property in Orange City with room to spread out, this is one you don’t want to miss. Ideally located across from Valentine Park and just minutes from Blue Springs State Park and the St. Johns River, this property offers the perfect balance of privacy and convenience with easy access to shopping, dining, and outdoor recreation. The home features nearly 2,800 square feet with 5 bedrooms, 3 bathrooms, and a detached flex space, ideal for a home office, guest suite, or multi-generational living. Thoughtful updates include granite countertops, stainless steel appliances, new windows and doors, updated flooring, and major system improvements with a newer roof (2022) and A/C units (2022 & 2024). Inside, the family room showcases exposed beams and a brick wood burning fireplace. Step outside to a screened porch overlooking the pool. Perfect for relaxing or entertaining. The property also includes a pole barns (with water and electric), and covered parking for multiple vehicles, equipment, or recreational toys. So whether you’re looking for space for your hobbies, room for animals, or simply more privacy without sacrificing location, this property delivers. Schedule your private showing today and experience it for yourself. Property may be equipped with audio and/or visual recording devices.
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.
