From the moment you arrive at 242 Annapolis Lane, you’ll feel the soothing natural ambiance that makes Rotonda West so special. Sunshine dances across the façade, welcoming you home, while the peaceful freshwater canal in your backyard quietly calls to the angler in you. Cast a line, sip your morning coffee, or simply watch the water shimmer—this is Florida living at its finest. Step outside to your private oasis, where two majestic mango trees provide shade and seasonal treats. The stamped concrete patio is the perfect place to unwind, entertain, or soak up the coastal breeze. With a fully fenced backyard, your fur babies and little ones can roam freely while you relax knowing they’re safe. Inside, nearly 1,400 square feet of thoughtfully designed living space unfolds. The split-bedroom floor plan offers privacy, with both bedrooms featuring their own en-suite bathrooms. You’ll love the no-carpet design, easy-care flooring, and the bonus den/office/craft room—perfect for hobbies, remote work, or quiet retreats. The kitchen is conveniently located near the laundry room and garage, making grocery days a breeze, and a charming nook beneath the window invites you to create a cozy bistro corner or workspace overlooking the backyard. This home has been lovingly maintained with major updates already done for you: a new roof in 2023, A/C in 2022, new windows in 2021, full repiping in 2013, and a brand-new hot water heater in 2025. Sitting high at 10.2 feet above sea level, the homeowner reports no flooding during recent hurricanes—offering priceless peace of mind. Can be purchased *TURNKEY FURNISHED* for $5,000 (with a few exclusions) outside of the contract! On city water and sewer, and includes a two-car garage. Rotonda West’s low annual HOA of just $190 keeps community standards high without breaking the bank. Need space for your toys? There’s community storage available for boats or RVs. Golfers will love having five public golf courses right in the neighborhood, and beach lovers will appreciate being just 20 minutes from Manasota Key and Boca Grande’s pristine shores. This is more than a home—it’s a lifestyle. Schedule your showing today and start living the Florida dream you’ve been waiting for!
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.
