GREAT LOCATION – WEST OF THE TRAIL! This dazzling custom-built, single-level pool home is situated in the desirable "flower streets”, west of the trail in Sarasota. Featuring a new, 3 color clay tile roof and Mediterranean style design this home has timeless style combined with modern luxury. Upon entering the double doors of this one-story retreat, you will notice the open layout and quality appointments that abound with tray and coffered ceilings, custom built-ins and niches, gas fireplace, gorgeous and rare coquina stone floors. This 4 bedroom (one a custom designed office), 3 bath, 3-car garage home features a new island kitchen with custom and glass front cabinets, stainless steel appliances, decorative backsplash and beautiful quartz counters. The tranquil primary retreat overlooks the lanai and pool and features a walk-in closet with built in closet system, wood floors and an incredible ensuite bath. This newly renovated primary bath exudes luxury with custom cabinetry, upscale finishes, and features a walk-in shower for a spa-like experience. The split floor plan showcases two additional guest bedrooms (one with a custom Murphy bed and office) each with access to newly renovated bathrooms. The high ceilings and 3 sets of sliding glass doors flood the open floor plan with natural light, while custom finishes and soft contemporary décor create an atmosphere of effortless sophistication. The very private lanai with a screened pool, new pool heater, fiber optic lighting, Pebble tec finish, pool bath and outdoor shower is surrounded with lush vegetation, perfect for entertaining and outdoor relaxation. The home is wired for high-speed internet access and streaming services. There is an installed security system that protects both pool and home. The paver driveway and side-entry 3 CAR garage adds additional built-in storage, a 2nd refrigerator and fabulous curb appeal. Upscale landscaping and lighting complement the architectural design and tropical setting. When you want to enjoy the neighborhood, you are minutes away from downtown Sarasota’s cultural scene, Siesta Key Beach, Southside Village shops and restaurants. Located in the Southside Elementary School District and steps away from Sarasota Memorial Hospital’s main campus, this home has it all -- a sanctuary feel AND all the amenities you desire at your fingertips.
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.
