Welcome to a premier waterfront lifestyle in the highly coveted Savona neighborhood of SE Cape Coral. Surrounded by multi-million dollar estates, this property offers highly desirable southern exposure and direct, bridge-less sailboat access to the Gulf of Mexico. Whether you are looking to enjoy the existing coastal charm or leverage this premium lot to build a custom waterfront estate, 1928 Savona Parkway is an exceptional investment. The unmatched nautical location puts you just a quick 3-minute cruise from the Caloosahatchee River. Situated on a spectacular 200-foot-wide canal with long water views, this protected waterway easily accommodates a 50-foot-plus yacht. The property comes fully equipped with a concrete seawall, a wooden dock with electricity, and a boat lift. It is the perfect starting point to set sail for the Gulf, fish right off your dock, or simply sit back with a cool cocktail and soak in the tranquil waterfront views. Inside, the spacious layout features over 2,000 square feet of total living space and an oversized 2-car garage. A thoughtfully designed split-bedroom floor plan affords perfect privacy for guests, complemented by formal living and dining spaces, a cozy family room, an inside laundry room, and easy-to-maintain updated tile flooring throughout. The eat-in kitchen is beautifully updated with granite countertops, stainless steel appliances, and a convenient breakfast bar. The master retreat offers a private escape with sliding glass doors leading directly to the lanai, a large walk-in closet, and a private en-suite bath featuring dual vanities and a walk-in shower. The expansive outdoor living area boasts a covered lanai and a sparkling resort-style pool ideal for entertaining. For added convenience, the guest bathroom perfectly doubles as a cabana bath with direct pool access. Buyers will enjoy peace of mind with a brand-new roof installed in 2023. The home was fully and professionally restored following Hurricane Ian in 2022, which included the professional replacement of the lower four feet of drywall and the luxurious addition of cedar lining in every closet. Positioned perfectly between the Cape Coral Bridge and the Midpoint Bridge, the property offers incredibly easy access to all points in the Cape and Lee County. You are just minutes away from top-tier restaurants, local shopping, Fort Myers, Southwest Florida International Airport, and world-renowned beaches. Dock your yacht and start living the dream 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.
