Opportunity Awaits! This Fairfield model with 5 beds plus den, plus loft, plus bonus/media room and 3 full baths is expansive at 3880 sq ft under air! Designed for those who appreciate room to grow and a layout that adapts to your needs, this floorplan gives you options to customize and make it work for your unique lifestyle! The heart of this home features exceptionally large room sizes and flexible, useable space. Whether you need a dedicated home office, a hobby room, or a grand play area, the possibilities are endless. Host movie nights in your private Movie Room, or take the party outside to your huge lanai with Pool and Spa, (Brand New Spa Heater) and outdoor bar! The private backyard offers a secluded retreat for relaxing in the Florida sun. Inside, you will find flooring just 2 years new throughout the entire downstairs. The kitchen has both Breakfast nook and Breakfast bar, Center island, Walk-in Pantry, ample Cherry cabinetry and granite counters and backsplash. The Family room, Den, Dining Room and guest bedroom round out the first floor. Upstairs, the Primary En-suite has room to sprawl, two walk in closets, a bath with dual sinks, and separate tub and shower. You'll also find the loft, three more bedrooms, ENORMOUS Media Room (an added upgrade on this model) and the conveniently located Laundry room. With such a solid foundation and private location on the back of the loop, it’s a rare chance to customize a dream home and build immediate equity. Located in the ever-popular Stoneybrook community, you’ll enjoy vibrant amenities including clubhouse, fitness center, tennis, pickleball, playground and a public golf course—with LOW HOA FEES and a truly remarkable location right in between Gulf Coast Town Center and Coconut Point.
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.
