Nestled at the end of a quiet cul-de-sac within an exclusive enclave of just 30 executive homes built in 1988, 4-car driveway provides generous parking and convenience, while the backyard is a true retreat featuring a luxury waterfall pool. Home is ideally located in a top school zone and sits on the largest lot in the neighborhood with 6,459 square feet. Boasting 5 bedrooms and 3 bathrooms, including a downstairs bedroom (currently used as an office) and full bath, this home offers a highly desirable and functional floorplan with soaring two-story ceilings, enormous windows for abundant natural light, brand new carpet, and new central A/C. Beautifully appointed throughout, it features travertine-style tile flooring across the lower level, dual pane windows, plantation shutters, recessed lighting, arched passages, décor niches, custom mirrored walls, raised panel interior doors, mirrored closets, and ceiling fans. Entry begins through a large gated courtyard with tranquil waterfall, lawn, and paver walkway leading to a stunning front door adorned with full beveled leaded glass. Inside, a grand foyer welcomes you to elegant formal living and dining rooms and an upgraded kitchen showcasing granite countertops, travertine backsplash with granite inlay, brand new stainless appliances and a sunny eat-in morning room that opens to the inviting family room with gas fireplace. A dramatic hand-crafted hardwood staircase leads upstairs to a luxurious primary suite retreat featuring a two-sided fireplace, sitting area, walk-in closet, private balcony overlooking the tropical backyard, and a spa-style bath with oval soaking tub, separate shower, and dual sinks. Three additional spacious bedrooms and a hall bath with dual sinks and travertine tub/shower complete the upper level. The backyard is a true private resort with sparkling pool, spa, multiple waterfall features, custom travertine-style paver decking and pool surround, lush tropical landscaping, and mature palm trees swaying in the ocean breeze. Entertain in style at the custom built-in BBQ center with long sit-up bar seating (structure in place, no appliances) beneath one of two shade awnings. An inside laundry room offers direct access to the finished garage with epoxy flooring and extensive custom built-in storage.
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.
