Welcome To a Rare Opportunity In The Highly Sought-After Ivy Lake Estates Gated Community. This Exceptional Four-Seasons Model at 16518 Ivy Lake Drive Offers a Truly Impressive Layout, Highlighted by a Stunning Rotunda-Style Entry Foyer That Creates an Immediate Sense of Space & Elegance. This Spacious 5-Bedroom Home Features a Well-Designed Floor Plan Including a Designated Formal Dining Room, Perfect For Hosting Gatherings & Special Occasions, Along With a Desirable 3-Car Garage Offering Ample Space For Vehicles & Additional Storage. With a Ground Lower Level Guest Bedroom & The Primary Bedroom Plus 3 Guest Bedrooms on The First Level, This Creates a Very Family Friendly Layout. The Open-Concept Kitchen & Dinette Area Serve As The Heart of The Home, Featuring Abundant Cabinetry, Generous Counter Space, & Plenty of Storage, Ideal For Both Everyday Living & Entertaining. The Seamless Flow Into The Main Living Areas Enhances The Home’s Bright & Spacious Feel. Step Outside To Enjoy a Beautifully Maintained Saltwater Pool, Creating a Private Outdoor Conservation Retreat Perfect For Relaxing or Hosting Guests All Year Round. This Well-Maintained Home Includes Numerous Recent Updates, Including a New Roof In 2022, Two New Air Conditioning Systems In 2021, New Pool Equipment In 2025, & a New Water Heater In 2025, Offering Peace of Mind For Years To Come. New Carpeting Installed Throughout In 2021 Adds a Fresh, Move-In-Ready Touch. Additional Highlights Include an Upper-Level Loft Ideal For a Home Office or Den, & a Spacious Bonus or Game Room Perfectly Positioned Just Off The Family Room. Located In The Sought-After Ivy Lake Estates Community, Residents Enjoy Beautifully Maintained Grounds, Parks, Playgrounds, Basketball Courts, & Serene Walking Paths. With Easy Access To The Suncoast Parkway, You Are Just Minutes From Top-Rated Schools, Shopping, Dining, Tampa International Airport, & Some of Florida’s Most Stunning Gulf Coast Beaches & Golf Courses. With Low HOA Fees & No CDD, This Home Truly Is a Catch For The Right Buyer. Make It Yours & Don’t Miss Your Chance To Own This Exceptional Home In One of Odessa’s Premier Neighborhoods.
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.
