This home is VA assumable with a low interest rate, located in Flood Zone X—no flood insurance required—and offers low HOA fees. Welcome to Burnt Store Lakes, a vibrant community known for its scenic beauty, abundant wildlife, and endless outdoor recreation. Fully remodeled and thoughtfully upgraded, this rare gem blends modern elegance with prime access to eleven freshwater lakes, expansive greenbelts, and the natural charm of Charlotte Harbor and Burnt Store Marina. From the moment you arrive, the home’s stunning curb appeal makes a lasting impression. A new metal roof, fresh exterior paint, and beautifully designed landscaping create a striking welcome. Inside, the spacious open-concept layout offers exceptional room to entertain, including a large upstairs flex space, 4 bedrooms, and two and a half baths. The gourmet kitchen is a chef’s dream, featuring stainless steel appliances, a farmhouse sink, granite countertops, a pantry, a hood vented to the exterior, a beverage bar, and a generous island perfect for gatherings. Every detail has been updated with care—new interior paint, flooring, lighting, and ceiling fans throughout, along with impact-resistant windows and doors for enhanced security and peace of mind. All bathrooms have been completely transformed, with the primary suite offering a spa-like retreat complete with multi-function shower heads, double sinks, and an expansive walk-in closet. Step outside to your private backyard oasis. The sparkling pool invites relaxation and fun, ideal for cooling off on warm Florida days or unwinding in the peaceful atmosphere. The pool cage was replaced in 2024, giving the outdoor space a fresh, modern feel, and the new pool pump adds efficiency and convenience. The expansive pool deck provides ample room for lounging, dining, and entertaining, while the grilling area is perfect for alfresco meals with family and friends. Enjoy breathtaking sunset views and pick fresh mangoes from your very own tree. Residents of Burnt Store Lakes enjoy exceptional amenities, including the Community Park on Spoonbill Lake with charming Old-Florida-style pavilions, picnic areas, restrooms, and a playground. Nature lovers will appreciate the Canoe/Kayak Launch on Bear Branch Creek, offering direct access through the mangrove preserve to Charlotte Harbor—home to some of the area’s best fishing. This home is truly a must-see—modern, secure, beautifully updated, and nestled in a community that embraces the best of Florida living. Schedule your private tour today.
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.
