WATERFRONT GEM WITH SAILBOAT ACCESS – 10K BOAT LIFT Bring Your Sailboat and Live the Florida Lifestyle! This beautifully maintained 3-bedroom, 2-bath waterfront home offers direct sailboat access to the Gulf and is packed with features perfect for boating enthusiasts and Florida living. Nestled on a seawalled lot in a desirable waterfront community, this light and airy home boasts lush landscaping and thoughtful upgrades to set the tone for relaxed coastal living. Step inside to find an open, bright floor plan with vaulted and tray ceilings, plant shelving, and large sliders that flood the home with natural light and lead to a spacious screened lanai. The great room and formal dining area flow seamlessly for entertaining or quiet evenings. The kitchen is a chef’s delight with ample cabinetry, generous counter space, breakfast bar, and a dinette with a second set of sliders to the lanai. The spacious primary suite is a true retreat with tray ceilings, lanai access, his-and-her closets, and a luxurious bath with dual sinks, cultured marble garden tub, and a glass-enclosed shower. Additional features include: Oversized guest bedroom with vaulted ceiling and closet Third bedroom with walk-in closet, currently used as an office, with lanai access Guest bath with tub and cultured marble vanity Laundry room with abundant storage and closet space Screened garage door with cabinets, utility sink, and built-in workbench Side RV/BOAT PARKING pad New composite dock Large detached utility shed Large wood deck for entertaining and grilling Located just minutes from open water, this home is your ticket to Florida’s best boating, fishing, and waterfront living. Get ready to explore the canal system that leads to the Myakka River, Charlotte Harbor, and the Gulf. South Gulf Cove is a truly special waterfront community. Discover excellent shopping, restaurants, world-class golf courses, Englewood, Manasota Key, Punta Gorda, Fishermen’s Village, and the Gulf beaches of Boca Grande. South Gulf Cove community residents enjoy coastal living with over 50 miles of navigable waterways, a marina and boat launch, a VOLUNTARY ASSOCIATION WITH CLUBHOUSE, parks, playgrounds, and sidewalks for biking and walking. Golf courses, fine dining, multiple airports, and pristine beaches make this an ideal place to call HOME.
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.
