Save $500/mo with assumable loan. Beautiful Remodeled Craftsman Home! High Elevation and Prime Location--Nestled in a convenient and sought-after area of Palm Harbor, Florida, this property offers a straight five-minute drive to the world-famous Honeymoon Island State Park and Beach. Residents can enjoy an active lifestyle and a variety of watersports on the nearby Dunedin Causeway. For further adventure, a ferry ride provides easy access to the acclaimed Caledesi Island. The home is also situated close to quality schools and shopping options, making everyday living comfortable and accessible. Private and Spacious Setting--Located on a quiet, private cul-de-sac, the property boasts a huge yard perfect for outdoor activities. A custom treehouse play structure wraps around majestic, shady oak trees, offering a unique playground. The oversized, partially fenced backyard provides ample room to add your dream patio and swimming pool, and includes a raised garden bed and mulch bin ideal for gardening enthusiasts. Modern Renovations and Features--This craftsman home has been fully remodeled with modern design elements and quality finishes throughout. The gorgeous chef’s kitchen features chic cabinets with soft-close doors, cabinet organizers, stainless appliances, a moveable island, and an eat-in space. The kitchen is completely open to the expansive living great room, creating an accommodating environment for family gatherings, entertaining friends, and hosting guests. Spacious Living Areas--The oversized living great room is enhanced by decorator lighting fixtures, a stone fireplace with mantle, a television cabinet system, and plenty of space for large families and gatherings. Details such as new door hardware and hinges, tall baseboards, trim, and plinth blocks showcase the thoughtful improvements made to the home. Quality Upgrades and Practical Features--Electrical upgrades include dimmer and rocker switches, as well as updated fixtures, fans, and pendants. Both remodeled bathrooms feature contemporary designs and fixtures. The property also includes practical enhancements such as a roof solar system—providing approximately 80% of energy needs according to the seller, buyer assumes remaining $177/mo payment by assignment on remainder of the solar loan. Seller will payoff their 27k loan on impact windows. The next owner has the option to arrange a separate lease or transfer of the water system and security system. All windows are wind and impact rated, offering strength, quietness, and efficient insulated glass. The front, side, and garage doors have also been upgraded for insurance benefits. Extra storage is available in the closets throughout the home. Additional Amenities--Laundry is conveniently located in the two-car garage, which is equipped with shelving and cabinets for added organization. The property benefits from massive insulation added to R36 standards. Some furnishings are available with the home, including a murphy bed and storage in bedroom two. Recent seller updates include a new AC in 2020, kitchen, solar, exterior paint, dryer, and new roof in 2021, new water heater in 22, R36 insulation, TV cabinet system, and primary ensuite in 2023, and a new washer in 2025. Zoned "OUT" and "X" per Flood Maps, and assigned "non-evacuation" according to Pinellas County.gov. The listing information is considered reliable, though prospective buyers are encouraged to independently verify all details.
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.
