$10,000 Seller Concession Being Offered for closing costs or interest rate buy downs you choose what's best for you...Enjoy this RARE OVERSIZED South-Facing Lot – Over 1/3 Acre so you can park a boat or trailer with ease! This nearly new 2022-built FURNISHED home sits on a rare oversized rear south-facing lot in a NO FLOOD ZONE, meaning no flood insurance is required. South-facing rear exposure is ideal for pool living, providing warm sunshine throughout the winter and refreshing afternoon shade in the summer for a comfortable year-round outdoor experience. Plenty of room to build your dream oversized pool and still have room for pets and kids to play in the backyard. Why wait for new construction when you can move right into this beautiful four-bedroom, three-car garage home at a fantastic price? FHA and VA buyers are welcome. Inside, you’ll love the open-concept floor plan with cathedral ceilings, a center island kitchen, granite counters, and stainless-steel appliances. The spacious living room flows seamlessly to the large covered lanai, perfect for enjoying the Southwest Florida lifestyle. Quality finishes are found throughout, including concrete block construction with metal frame interior, a stone-accented elevation, an under-truss lanai, and a Lenox 15 SEER high-efficiency A/C system. Additional features include PGT Low-E insulated windows, Moen plumbing fixtures, dimensional shingles, 36-inch upper cabinets with soft-close doors, granite counters in both kitchen and baths, and 18-inch tile flooring in the main living areas. The three-car garage has been upgraded with epoxy-coated flooring and a paver driveway, complemented by an irrigation system for easy yard maintenance. All of this comes in a prime location near US-41 and Pine Island Road, placing you just minutes from shops, restaurants, gyms, banks, and more. With new home construction prices continuing to rise, this is your opportunity to secure an incredible deal. Make this your new home in time for the holidays!
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.
