A magnificent 55+ active-adult community, Cascades is located in the prestigious, 2,000 acre master-planned community in Fort Myers, River Hall. Picture yourself in this upscale community that is surrounded by peaceful preserves and lakes.This gated community offers a LOW HOA which includes Xfinity Cable and Internet, all your lawn care needs, a state-of-the-art fitness center with a yoga studio, heated pool and hot tub for relaxation. Pickleball, Tennis and Bocce courts and much more! This single-family home boasts 2 bedrooms, 2 bathrooms, a 2 car garage, PLUS den perfect for those who work from home or can be used as an additional bedroom. The kitchen features granite counters, stainless steel appliances, additional pantry, and a breakfast bar for casual dining. The living areas and den have beautiful Ceramic tile, with plush carpet in the bedrooms, creating a cozy and modern atmosphere. Step outside to the screened-in lanai and take in the breathtaking views of the preserve, perfect for enjoying your morning coffee or evening cocktail. The master bathroom is a true oasis with upgraded granite countertops and a luxurious frameless shower door. The entire house is equipped with gutters, ensuring proper drainage and protection from the elements. This home is practically brand new and meticulously maintained, offering a clean and move-in ready space for you to call your own. Don't miss out on this incredible opportunity to live in luxury and comfort in the Cascades at River Hall community. All furnishings are negotiable! This home is NOT IN A FLOOD ZONE, SELLERS HAVE AN ELEVATION CERTIFICATE.
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.
