Welcome Home to the coveted community of Connerton! This 2,634 sq ft, 6-bedroom, 3 Full Bathrooms, 2-car garage home is ready for its new owners. The floor plan lends itself well to multigenerational living, with 2 bedrooms and a full bathroom on the first floor. The second floor has the primary bedroom and 3 additional bedrooms, including a second living room. The primary bedroom has a tray ceiling and an ensuite with a soaking tub, a separate shower, and a Walk-in closet. The 2-car garage is attached and accessed from the road behind the property. This allows the front porch to be the center stage as you enter the home. There is additional street parking for guests. This is a gas community with kitchen gas range. There is a corner pantry and a large kitchen island that opens to the living room and dinette area, creating great flow for entertaining. The covered lanai is off the living room. One of the community's amenity centers is behind the home and a short walk or golf cart ride from a pool, tennis courts, a coffee shop, a fitness center, and a playground. Community is in close proximity to 41, 52, 54, 75, and the Suncoast, making travel and access to shopping, dining, entertainment, and medical services easy. The seller is offering a 5K flooring allowance at closing. Great large home for a great low price. Schedule a showing to see why this community is loved by so many!!
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.
