3.25% Assumable Mortgage in place! Shows like a model home! Welcome to paradise in Camden Park in Providence, Davenport's most exclusive community, where luxury living meets resort-style amenities. This stunning 4 bedroom, 3 bath Smart home offers an unparalleled blend of elegance, comfort, and convenience. As you enter the home you will be impressed by the spacious open feel with high ceilings and a wide open layout that still allows for the distinct spaces for formal living and dining rooms. Beautiful wood look tile is in place in all of the living areas. This home is built for entertainment with a kitchen with new stainless appliances, 42 inch cabinets, a spacious island and large breakfast nook. Outside of the large family room are sliders leading to an enclosed lanai where you can enjoy the view of the beautifully landscaped yard with stone pavers surrounded by a gardener's dream featuring lemon, orange, avocado, guava, papaya, tangerine, peach and Barbados cherry trees. Whole home solar panels in place make your utility bills extremely affordable for years to come! Experience the unmatched amenities of the Providence community with access to a championship golf course, two swimming pools including a resort-style pool with slides, lighted tennis courts, a fitness and aquatic center, and an activities room for group classes and activities. The 24-hour manned gatehouse ensures security and peace of mind, while wide sidewalks invite leisurely strolls or bike rides to the golf and recreation center. For your furry friends, there's a dog park where they can frolic and play. Just 15 miles from the magic of Disney, Providence offers the perfect balance of tranquility and convenience, making it the ideal place to call home. Don't miss this rare opportunity to own a piece of paradise in one of Florida's most coveted communities. Schedule your private tour today and experience luxury living at its finest.
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.
