ASSUMABLE LOAN AT 2.75%..............OVER 2,150 SQ FT.........LARGEST HOME ON THE STREET........GATED 55+ COMMUNITY..........NOT IN A FLOOD ZONE......REVERSE OSMOSIS..............PARTIAL IMPACT WINDOWS........TILE ROOF.....GL HOMES BUILT The assumable loan at 2.75% is the headline. On a balance left near $300K, that is roughly $850 a month or $10,000 a year that stays in your pocket vs today's rates. You will not find this anywhere else in Valencia Lakes. Over 2,150 square feet of living space. That is 200 to 300 more square feet than the comparable homes on this street and in this community. More room, same Valencia Lakes lifestyle. Sitting on a corner lot with real separation from neighbors. Quieter mornings, more privacy, less traffic past your windows than the typical interior lot. Inside, the layout is open and instantly comfortable, with tall wood cabinetry that delivers the storage most homes in this size class lack. The screened lanai is where you will actually live. Private, quiet, finished with a remote-controlled retractable awning that lets you shape it for sun or shade. Morning coffee, afternoon reading, evening cocktails with neighbors. The kind of outdoor space that pulls you out of the house and into Florida. Hurricane ready with partial impact windows, a reinforced garage door, and an upgraded electrical panel with whole-home surge protection. HOA at $580 a month covers lawn care, exterior maintenance, security, and cable. Resort-style pools, clubhouse, fitness center, pickleball, tennis, and a full 55+ social calendar are all part of life here. Mornings at the pool, afternoons on the pickleball court, evenings with people who became friends. That is what Valencia Lakes delivers. Built by GL Homes with a tile roof and block and stucco construction. The biggest home on the street, the lowest rate in the community, and the full Valencia Lakes lifestyle, all at one address. Bigger, cheaper to own, and ready when you are.
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.
