BACK ON MARKET & BETTER THAN EVER! Now offering an attractive 4.75% FHA assumable mortgage, making this an incredible opportunity in today’s market. Dreaming of that perfect oversized Florida yard where all your gardening hopes and dreams can come true? Welcome to your own edible wonderland — a beautifully updated home set on a rare triple lot in NE Cape Coral, priced under $300,000. The fully fenced yard offers privacy and space to truly enjoy outdoor living, complete with mature fruiting trees including banana, fig, avocado, citrus, and soursop, plus room for play, entertaining, or peaceful evenings under the stars. Inside, the home features 3 bedrooms, 2 bathrooms, and a versatile den that works beautifully as a 4th bedroom, home office, or creative space. What truly sets this home apart is the long list of major upgrades already completed — saving the next owner tens of thousands in future expenses. Improvements include a new roof (2023), full HVAC system and all-new ductwork (2024), newly updated plumbing repipe (2026), luxury plank flooring, new kitchen countertops, updated guest bathroom, new exterior double doors, gutters, and a new garage door motor. In total, over $70,000 in improvements have already been completed, offering real value and peace of mind from day one. Out back, a professionally installed, permitted 10x20 hurricane-rated shed provides secure storage and added protection. The leased solar panel system includes full maintenance and roof coverage, adding another layer of comfort and long-term value and a hedge against rising energy cost. All appliances convey — including a generator. Located in a no flood zone with all assessments paid, this home is conveniently situated near North Fort Myers High School and offers easy access to downtown Fort Myers via the Caloosahatchee Bridge — with no tolls. If you’ve been waiting for a move-in ready home where the big-ticket items are already handled and the outdoor space truly sets it apart, this one is worth a closer look.
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.
