Welcome to a spectacular waterfront hidden gem in the highly sought-after Southshore area. Situated on an expansive and beautifully landscaped 0.3-acre lot, this exceptional energy-efficient home offers a serene backdrop of a peaceful, wildlife-filled lake perfect for fishing. Designed for effortless indoor-outdoor living, you can enjoy your morning coffee with the sunrise on the screened lanai and take in stunning sunset views from the front of the home. Inside, the residence is a showcase of sophisticated details, featuring imported porcelain tile flooring throughout (completely carpet-free), stylish rounded drywall corners, and elegant tray ceilings. The thoughtful split-floor plan includes 4 full bedrooms and 3 baths, highlighted by a private multi-generational/guest suite complete with its own private bath. The luxurious primary retreat serves as a peaceful sanctuary, boasting a versatile, light-filled sunroom/studio area—ideal for a home office, reading nook, or art studio—with direct sliding-door access to the lanai. Its spa-like en suite bath features a granite-topped twin-basin vanity, a deep garden soaking tub, and a generous seamless glass shower. At the heart of the home, the bright, open-concept chef’s kitchen is perfectly tailored for entertaining, equipped with 42" wood cabinetry with crown molding, premium granite countertops, stainless steel appliances, and a spacious walk-in pantry. Premium upgrades and high-value features include: Climate-Controlled Garage: Equipped with a mini-split AC/heating unit (featuring a brand-new motor and remote control). Energy & Infrastructure: Four brand-new primary bedroom windows, a comprehensive water softener and filtration system, an advanced Rain Bird sprinkler system, and pre-wiring for a backup generator. Security & Tech: A high-capacity fireproof gun safe with a new dial, fully pre-wired for an ADT security system, and pre-wired for high-speed Frontier/Verizon FIOS internet. Finishing Touches: Newly installed remote-controlled ceiling fans in the living and dining spaces. Located within a premier, gated community, residents enjoy resort-style amenities including a sparkling pool, fitness center, clubhouse, covered playground, tennis courts, and a community fishing pier on the scenic Little Manatee River. Enjoy the perfect blend of tranquility and convenience with swift access to I-75 for easy commutes to Tampa, MacDill AFB, and Sarasota. You are just minutes from premium shopping, the Amazon distribution center, the new St. Joseph’s Hospital, and a short drive from Florida’s world-class Gulf beaches. Newer roof – 2024, Both AC systems – 2020.
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.
