Buyer did not qualify for mortgage~ Back on the Market! Take advantage of an assumable FHA mortgage at an incredible 2.99% interest rate—a rare opportunity that adds tremendous value to this wonderfully maintained, turnkey home in Wesley Chapel’s highly sought-after Union Park Smart Home community. This one-owner, single-story residence sits on a .13-acre homesite and showcases true pride of ownership with thoughtful upgrades throughout (see photos for full list). Offering 1,690 sq. ft., 3 bedrooms, and 2 bathrooms, the home features a bright, open-concept layout ideal for modern living. The welcoming foyer leads into a spacious family room and dining area, while the split-bedroom design ensures privacy for family and guests. Two generously sized bedrooms and a full bath are located at the front of the home. The well-appointed kitchen overlooks the main living spaces and includes stainless steel appliances, a large breakfast bar, and custom under-cabinet lighting—perfect for everyday meals or entertaining. An inside laundry room with washer and dryer included adds convenience. The private primary suite, tucked at the rear of the home, offers abundant natural light and an en-suite bathroom, creating a peaceful retreat. Enjoy year-round Florida living in the oversized screened-in lanai, complete with Cool Deck flooring and custom in-track LED lighting—ideal for morning yoga, evening gatherings, or quiet relaxation. The fully fenced backyard provides added privacy and features solar accent lighting for a warm nighttime ambiance. Additional upgrades include: ADT Smart Home security with video doorbell and cameras, quarterly serviced A/C, custom concrete landscape curbing, as well as LED color changing exterior in-track lighting along the front fascia and rear lanai. Residents of Union Park enjoy resort-style amenities, including community pools, walking trails, playgrounds, dog park, fitness center, sports field, splash pad, picnic pavilions, outdoor fitness stations, and a fire pit. The low HOA fee includes Spectrum high-speed internet and cable, both at home and throughout the community. Conveniently located near top-rated schools, The Shops at Wiregrass, Tampa Premium Outlets, AdventHealth, BayCare, Moffitt, VA Hospitals, dining, entertainment, and with easy access to I-75, I-4, and all Tampa Bay attractions. BONUS: Seller-approved lender credit available.
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.
