Welcome to **1987 S Old Mill Drive in Deltona**, a home that gives buyers what they are really looking for: **space, flexibility, storage, a large yard, and major updates already handled**. The seller will install a **brand-new roof prior to closing**, giving the next owner a huge value add and peace of mind from day one. The home also features a **2020 A/C**, a **water heater believed to be from 2018 or 2019**, a **new dishwasher**, and **recent exterior paint** for added curb appeal. Inside, this home lives larger than expected with **oversized bedrooms, generous closets, and lots and lots of storage throughout**. The primary bedroom includes a **walk-in closet**, giving you the space you need without feeling cramped. The full bathrooms are functional, the rooms are comfortable, and the layout gives buyers the ability to use the home in a way that truly fits their lifestyle. One of the strongest features is the flexible living space. Whether you need a **second living room, large formal dining room, home gym, home office, media room, home theater, playroom, entertaining area, or even a potential third bedroom**, this home gives you options. Outside, the **large fenced backyard** is ready for pets, play, gardening, grilling, or relaxing on the patio. There is room to spread out, entertain, and enjoy outdoor living without feeling boxed in. Located in a **high-and-dry Deltona area**, this home offers space, comfort, storage, flexibility, and important updates in one strong package. With a new roof coming prior to closing, key systems already updated, and fresh exterior paint, this is a smart opportunity for buyers who want room to grow without taking on the big-ticket items right away.
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.
