Waterfront pool home on the navigable Stranahan River with ~75 ft of frontage, concrete seawall, and NO HOA! This updated single-story residence offers a flexible 2-bedroom plus den layout, with the den easily functioning as a third bedroom or office with direct backyard access! Enjoy a private setting with a zen front courtyard and a travertine patio surrounding a saltwater heated pool and spa with Pentair automation. The open-concept interior features a renovated kitchen with quartz countertops, peninsula seating, stainless steel appliances, and a farmhouse sink. Both bathrooms are fully updated. Additional features include a 2018 roof, impact windows and doors, and tile flooring throughout. Ideal for buyers seeking private waterfront living with flexibility and value! Waterfront pool home on the navigable Stranahan River offering approximately 75 feet of water frontage, a solid concrete seawall, and no HOA. This updated single-story residence features a flexible 2-bedroom plus den layout, with the den easily functioning as a third bedroom, guest space, or home office with direct access to the backyard. Designed for privacy and indoor-outdoor living, the property includes a tranquil front zen courtyard and a spacious travertine paver patio surrounding a private saltwater heated pool and spa with Pentair automation. A custom privacy wall enhances the backyard experience by shielding the main entertaining areas while maintaining open waterfront views. The interior offers an open-concept layout with a renovated kitchen featuring quartz countertops, peninsula seating, white cabinetry, open shelving, stainless steel appliances, a farmhouse sink, and dedicated coffee bar. Both bathrooms have been fully updated with frameless glass walk-in showers, rainfall fixtures, and modern tile finishes. Additional improvements include a 2018 roof, full impact windows and doors, tile flooring throughout, and mature landscaping. Navigable water access supports boating, jet skis, kayaking, and paddleboarding directly from the property. Well-suited for buyers seeking waterfront living with flexible space and strong value in the area.
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.
