Welcome to this 2/2 The Pearl model home in the Village of St. James. Great location between Lake Sumter Landing and Brownwood Town Squares for dining, entertaining, and shopping. This property features a charming covered front porch, perfect for sipping your morning coffee, enjoying a quiet evening and visiting with your neighbors. The entry is complete with a glass storm door and glass side panel that invite natural light into the home. Inside, you’ll find an open floor plan along with ceiling fans throughout for year-round comfort. The L-shaped kitchen is both functional and stylish, featuring an island with pendant lighting that opens seamlessly to the main living areas—perfect for entertaining or casual gatherings. The spacious primary bedroom offers a large walk-in closet and an en-suite bath with dual vanities, a walk-in shower, solar tube and a window that fills the space with natural light. Guests will appreciate the separate bath with a tub/shower combination. Additional highlights include a 2-car garage plus a dedicated golf cart garage, screened lanai, a privacy wall behind the home for added privacy, interior Laundry Room, and a Nova Water Filtration system for peace of mind. This home combines thoughtful features with an open, welcoming layout ready to enjoy. Just minutes by golf cart to St. James pool and Southern Star Executive golf course. Sterling Heights Pool and Recreation Center is under a mile away and Sea Breeze Recreation center is just 1 ½ miles. Don’t miss your opportunity to start living The Villages Dream. Watch our video and make your appointment to see this home 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.
