Bond Paid / Roof 2021 / HVAC 2024 / TURNKEY 2 Bedroom, 2 Bathroom Carolina Cottage Home with Florida Room and Whole House Solar System in the Village of Santo Domingo in The Villages, Florida. Featuring an open layout, spacious rooms, multiple indoor and outdoor living areas, and a whole house solar system, this home offers an excellent opportunity to enjoy the Florida lifestyle with comfort and convenience. A welcoming front porch creates the perfect setting to relax and enjoy the neighborhood atmosphere. Inside, the open floorplan is centered around a kitchen island overlooking the main living area, creating a natural flow for entertaining and everyday living. A solar tube in the main living space enhances natural light, creating a bright and inviting interior. The home features no carpet throughout, providing easy maintenance and a clean, cohesive look. The added Florida room offers flexible year-round living space, ideal for relaxing, hobbies, or additional seating, while the adjacent screened enclosure creates a comfortable outdoor retreat for enjoying Florida’s beautiful weather. A sliding glass door from the primary suite provides direct access to this peaceful outdoor space. The primary suite features a walk-in closet and private ensuite bathroom with dual sinks and a step-in shower. The larger guest bedroom also includes a walk-in closet, providing comfortable accommodation for visitors. The guest bathroom features a convenient tub and shower combination. Additional highlights include an inside laundry room with utility sink, cabinetry, and its own solar tube for natural lighting. The two-car garage offers built-in storage shelving and a garage screen, adding both functionality and airflow. This home is equipped with a whole house solar system designed to improve energy efficiency and help reduce utility costs. The solar system is currently leased. Located in the established Village of Santo Domingo, this home offers convenient golf cart access to golf courses, recreation centers, shopping, dining, entertainment, and all the amenities that make The Villages, Florida one of the country’s most sought after active adult communities. With its furnished offering, flexible living spaces, Florida room, screened outdoor area, and energy efficient solar system, this home presents an excellent opportunity for seasonal or full time living in The Villages. Schedule your private showing 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.
