Your TINY HOME awaits you! GREAT INVESTMENT OPPORTUNITY in a highly desirable Sarasota location! Just a short distance from the world-renowned Siesta Key Beach which is frequently ranked the #1 beach in America, this adorable cottage-style home exudes COASTAL CHARM at every turn. This home is also ONLY a SHORT WALK to the BOAT AND KAYAK LAUNCH where you can adventure in Sarasota Bay This 1 bedroom, 1 bath home is FULL OF CHARACTER, featuring tile flooring, crown molding, and light coastal décor that creates a relaxed, beachy atmosphere. The cozy primary bedroom includes an en suite bathroom with thoughtful details, built-in shelving, and a crisp white tiled shower. The kitchen is equally CHARMING, with white cabinets featuring decorative ACCENTS, a coordinating tile backsplash, and newer stainless steel appliances. A back door opens to the rear porch, perfect for morning coffee or evening relaxation. The LARGE FENCED BACKYARD includes TWO STORAGE SHEDS, one shed with electric, and plenty of space to add a pool, creating YOUR VERY OWN PRIVATE RETREAT. NEWER SEPTIC INSTALLED 2024. Enjoy nearby Vamo Drive Park on Little Sarasota Bay, offering bay access, boat launches, and scenic walking trails including the Jim Neville Marine Preserve. Come see, come sigh and make this tiny home your own. Whether you’re seeking a charming coastal retreat or a smart rental opportunity, this home is brimming with possibilities in an unbeatable Sarasota location. Come see it today! Multiple offers received. Highest and best offer requested by 3/25/2026, 8pm EST.
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.
