Open water views in a large, protected cove set the tone for this 4 bedroom, 2 bath Palm Harbor home, with east facing views that make sunrise over the lake a highlight of the day. Situated on a spacious lot, the property offers both scenic views and quick access to the water. Inside, the living room features a cozy wood burning fireplace and new flooring, creating a comfortable space to relax. The primary bathroom has a large jetted tub and there is a separate water heater for the bathroom. The home also includes a large laundry room with plenty of storage. The kitchen offers a large island, abundant cabinet space, and opens to the main living area, making it great for everyday living or hosting friends and family. An enclosed porch with walls of windows provides a bright, inviting space to take in the water views year round. The property is designed for easy outdoor living, with a wraparound porch, screened gazebo, and an additional shed with a porch that could serve as a bunkhouse, hobby space, or casual hangout spot. A large garage, shop offers plenty of room for storage, tools, lake toys, and projects. Located in a wide cove with open water views and a neighborhood boat ramp just down the road, this property offers the ideal setup for lake life. Solar panels (to be paid off at closing) help keep electric costs down, and two 50 gallon water heaters provide plenty of hot water for guests. POA dues are paid through July 2026. A great property for relaxing weekends, entertaining family and friends, or using as a short-term rental investment.
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.
