Located in the heart of Oakland, Florida, 2120 Gopher Tortoise Terrace offers the perfect blend of modern comfort, thoughtful upgrades, and an exceptional location surrounded by nature and convenience. This beautifully cared for 3 bedroom, 2.5 bathroom townhome also presents a rare opportunity for qualified buyers to potentially assume the seller’s attractive 2.75% mortgage rate, subject to lender approval, creating the possibility for substantial savings compared to current market rates. Inside, the home welcomes you with an airy open-concept design filled with natural light and stylish laminate flooring that carries throughout the main living spaces. The spacious layout connects the living, dining, and kitchen areas seamlessly, creating an ideal setup for both everyday living and entertaining guests. The kitchen has been designed with both function and style in mind, featuring granite countertops, stainless steel appliances, a large center island with seating, and a modern tile backsplash that adds a clean, upscale touch. Several custom improvements throughout the home elevate the overall experience, including upgraded pantry organization, custom shelving in the laundry room with a built-in drying pole, and professionally designed closet systems for enhanced storage and convenience. Upstairs, the primary suite serves as a relaxing private retreat, complete with a custom walk-in closet and an upgraded en-suite bathroom featuring raised countertops and a frameless glass shower. The additional bedrooms offer flexibility for family, visitors, or a dedicated home office space. Outside, the private paved courtyard creates a peaceful setting for morning coffee, outdoor dining, or relaxing evenings with friends and family. The surrounding location is one of the home’s standout features. Positioned directly across from the West Orange Trail, residents enjoy immediate access to miles of scenic walking, running, and biking paths. Just nearby, the Oakland Nature Preserve provides beautiful natural surroundings, wildlife, and additional trails to explore. The home is also conveniently close to Downtown Winter Garden, a highly sought-after destination known for its award-winning farmers market, local restaurants, boutique shopping, and year-round events that create a true sense of community. Combining a prime location, quality upgrades, and a welcoming layout, this home delivers an exceptional lifestyle opportunity in one of Central Florida’s most desirable areas.
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.
