LOOKING FOR EXTRA ROOM? This 2,767 sq ft under-air property offers QUICK direct access to the Intracoastal Waterway right from your backyard. Perfect for boaters, fishing enthusiasts, and nature lovers. Enjoy watching the endless of the manatees right from your back yard! This expansive property eliminates the hassle of bridges, providing a seamless and quick journey out to the Gulf. Inside, the generously sized floor plan boasts massive living spaces. BONUS! Newer Salt water heated Pool and air conditioner added in 2022, along with all new kitchen appliances, cabinetry and quartz countertops. 4 bedroom plus den offers additional flexibility! The extra large den offers a private suite for guests, and could possibly be transformed into a separate living quarters. Whether you are looking for a private retreat or the ultimate entertainment hub, this expansive waterfront home delivers location, and lifestyle you have been searching for. This home is located in the highly sought after Yacht Club Colony which boasts it's own community boat ramp, gazebo for entertainment, community gatherings, park benches, fire pit, play a game of horseshoes, bring your golf cart, ride your bike, or simply walk to the point for the most spectacular sunsets, or watch the yachts, sail boats, or fishing boats passing by. Just minutes to waterfront restaurants, by boat or car, Enjoy the many happenings of downtown Fort Myers, and living Close to I-75 makes it an ideal location. Close to two airports, shopping and so much more! Priced right for the extra love needed for roof repair or replacement (no known leaks)
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.
