Beautiful and well maintained two-story townhome on a CORNER LOT in Lutz, FL near Odessa! The home has 2 bedrooms, 2 and a half baths, one car garage, driveway, and fully screened and covered lanai. The first floor of the home features a small foyer off the front entryway with a coat closet that has rack storage and open storage underneath. The foyer opens to the large Great Room, which has direct access to a cozy dinette nook and well equipped kitchen. The Great Room and dinette nook feature three large windows with cordless blinds that allow the room to be bathed in great sunlight when opened. The kitchen features stainless steel GE appliances, granite countertops, a breakfast bar with room for high-top seating, and plenty of cabinet space for storage. The kitchen also features double sinks, ceramic tile flooring, and a pantry. The fully screened and covered lanai is accessible right off the dinette nook. The stairs lead to the second floor of this home which features a sizable multipurpose loft, large enough for office or lounge furniture. The laundry room is just off the loft area and features GE washer and dryer appliances, as well as elevated cabinets for extra laundry storage. The loft divides the primary bedroom from the additional bedroom. The primary bedroom is off of a small walkway from the loft, and features two large room windows, a sizable walk-in closet, a ceiling fan with light fixture, as well as a private bathroom. The primary bathroom features double sinks with granite countertops and cabinet space underneath, a shower, ceramic tile flooring, and a small window to let in sunlight and breeze. The second bedroom features a large room window, a sizable walk-in closet, a ceiling fan with light fixture, and an ensuite bathroom that includes a combination shower and tub, a single sink/vanity with cabinet space underneath, and a small window to let in sunlight and breeze. Crown molding is featured throughout the home. This is a great opportunity to own a well-maintained private townhome residence on a corner lot that has had only one owner, with no live-in pets, and no smoking. Water/sewage, and lawn/ground maintenance is included in the monthly HOA fee. No CDD. The home is conveniently located within short walking distance of a large fitness center, fast food and health food eateries, a grocery store, and a gas station. Schedule your appointment to see the property today!
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.
