Welcome to this maintained 3-bedroom, 2-bath home located in the desirable Oak Grove community of Lutz. Featuring a functional split floor plan, this home offers both privacy and comfortable living spaces, making it ideal for a variety of lifestyles. Step inside to a bright and inviting interior enhanced by fresh paint, creating a clean and move-in-ready feel throughout. The open living and dining areas flow seamlessly, providing a comfortable space for everyday living as well as entertaining family and guests. Natural light fills the main living areas, adding to the warm and welcoming atmosphere. The kitchen is designed for convenience and functionality, offering ample cabinet and counter space for meal preparation and storage. Its layout allows for easy connection to the main living areas, ensuring a practical and efficient flow throughout the home. The split-bedroom floor plan is a standout feature, with the primary suite positioned separately from the secondary bedrooms for added privacy. The primary bedroom offers a comfortable retreat with an en-suite bathroom and generous closet space. On the opposite side of the home, two additional bedrooms share a full bathroom and can easily serve as guest rooms, a home office, or flexible living space. Recent updates include a newer roof, providing peace of mind for future homeowners, along with fresh interior paint that enhances the overall appeal of the home. Step outside to a spacious backyard with plenty of room to relax, entertain, or customize to your liking. Whether enjoying quiet evenings or hosting gatherings, the outdoor space offers great potential for Florida living. Conveniently located, this home is just minutes from a variety of shopping, dining, and everyday amenities. Commuters will appreciate easy access to major roadways, while nearby destinations such as the University of South Florida area and the renowned Moffitt Cancer Center make this location especially desirable. The Oak Grove community offers a welcoming residential setting while remaining close to everything the Tampa Bay area has to offer. Whether you are a first-time homebuyer, looking to downsize, or seeking an investment opportunity, this home presents a great combination of location, layout, and value. Schedule your private showing today and discover all this Lutz home has to offer.
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.
