How would you like to live on one of the prettiest streets in Rotonda West, the popular deed-restricted golf community on the Cape Haze Peninsula? How would you like to live on an estate-sized lot of over one-third acre, in an X-Flood Zone, where flood insurance is optional? If so, you don’t want to miss this beautiful, lovingly-maintained 3 bedroom/2.5 bath/2 car garage, pool home. This move-in ready home, built in 2006, offers over 2000 square feet of living space, high tray ceilings, 20 inch ceramic tile, set on the diagonal, in all rooms except the bedrooms, which have new carpeting, and a whole house Rainsoft water system. The spacious kitchen features ample solid wood cabinets with quartz counter tops and stone backsplash; pantry; a large kitchen island with even more storage; a breakfast bar complete with built-in desk area and wine cooler; and brushed stainless steel appliances--A PARADISE FOR ENTERTAINING. There is a formal living room, dining room, and family room, providing comfortable everyday living. The primary bedroom ensuite has a half bath access to the lanai and pool area, and two walk-in closets for clothing and essentials. The large primary bathroom features vanities with quartz countertops, a garden tub, separate shower with shower bench, and a private water closet. The two guest bedrooms also have ample storage, one with a walk-in closet, and the other with dual closets. The guest bath is conveniently located between the two bedrooms, and the layout of the home provides a split bedroom floorplan. If you love outdoor living, you will not be disappointed. The large lanai measures 13' x 34' and the pool was redone in 2018, with new resurfacing, new tile, new decking and a waterfall feature. The spacious back yard is fenced with white vinyl fencing, providing privacy and room for your furry friends to play. You also do not have to worry about the mechanicals of the home. The roof and AC system are only 3 years old. The electric water heater and the appliances are all 3-4 years old. Most recent updates include: new pool heater, new outdoor fans, indoor lighting and fans, new toilets, a custom large format tile wall in the family room with a 77" LG OLED G Series TV, which conveys with the house, laundry room sink, new Chamberlain garage door opener, new front entry lock, and new irrigation system. Any items left in the home will convey for the convenience of the buyers. Does it get any better than this? YES-- You have easy access to Rt. 776, and can enjoy Rotonda’s 165-acre community park, 30-mile fresh water canal system, and excellent golf courses (5 golf courses in Rotonda West alone), along with the area’s sparkling intercostal waterways, beautiful Gulf of Mexico beaches, miles of walking and biking trails, tennis courts, restaurants, shopping, and world-class fishing. Make your appointment today. This is definitely one to see. Time to enjoy the Florida sun!
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.
