This home located in the 55+ retirement community of Sun City Center, FL, which has been voted the number one retirement community in the country, is a beautifully updated move-in ready home in the premier neighborhood of Caloosa Country Club Estates. The custom-built home features over 2000 sq. ft. of air-conditioned space, 2 bedrooms, 2 baths, a 2-car garage and is situated on the shore of Lake Caloosa. The home was remodeled in 2023 and upon entering the home you will find new luxury vinyl flooring throughout that is not only waterproof but is also pet proof and rated extreme scratch and dent proof. New interior doors with custom casings and 5 ½” baseboards were also installed along with remote control fans and night light wall switches. The openness and split floor plan are perfect for entertaining family or guests and at the same time gives privacy when your guests are staying overnight. The large living room is bright and airy and provides you with a great space that can be used as a formal space or a more casual area for entertaining family and friends. The master en-suite has French doors to the sunroom providing you with a relaxing lake view and the room is large enough to accommodate King size furniture. The master bath has new cabinets with soft close drawers and cupboards, granite countertops, a double vanity with new mirrors and lighting and a new tiled walk-in shower. There is also an instantaneous water heater with scald control that is both convenient and will help reduce the utility bill. The kitchen and family room along with the dining room and the sunroom are the heart of the house. The totally upgraded kitchen features cabinets with an abundance of soft close drawers and cupboards, granite counter tops, beautiful tile backsplash, new lighting, including under cabinet lights, stainless steel LG appliances, a five-stage reverse-osmosis drinking water system and a pass through to the oversized sunroom. The kitchen is also open to the family room which includes a breakfast area with additional cabinets and counterspace and a fabulous view of the water out back. The dining room is adjacent to the kitchen and has French doors that open to the sunroom providing views of the lake. The sunroom is an expansive 12’X34’ glassed-in and air-conditioned space that is perfect for relaxing after a round of golf or for entertaining family and friends. Whether you are just relaxing with a good book or morning coffee or entertaining numerous friends and family this home is perfect. When buying a home in Florida, insurance is an important to consider. The panel box, disconnects, GFCIs, and plumbing are all up to date and the roof was installed in 2014 and the A/C in 2016. The water for the irrigation system is supplied from the lake which saves you on your water bill and the annual neighborhood HOA is only $90. With its location, upgrades, and view, this property should be on everyone’s list to see, so make an appointment to stop by before it’s too late.
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.
